January 28, 2013
- in Uncategorized by schooloftrade
Gold Anchor Chart Prep:
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| Gold Anchor Chart Prep: |
We can see
gold trading below the PLOD which means we are looking for 2 trading
opportunities. First, if the price-action
moves above the PLOD we have the InsideOut Set-up. Second, if the price-action makes lower-lows we
then have a Wave Set-Up.
gold trading below the PLOD which means we are looking for 2 trading
opportunities. First, if the price-action
moves above the PLOD we have the InsideOut Set-up. Second, if the price-action makes lower-lows we
then have a Wave Set-Up.
We can see symmetry
support around 1645.0 which will make an excellent profit-target on the way
down using the Wave Set-Up.
support around 1645.0 which will make an excellent profit-target on the way
down using the Wave Set-Up.
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| Gold Anchor Chart Prep 2 |
We can see
the double-top formed above us which provides us with support at 1651.2 which
makes an excellent price-reversal location for a long.
the double-top formed above us which provides us with support at 1651.2 which
makes an excellent price-reversal location for a long.
Our day
trading strategy for Gold is to buy above the PLOD if the sellers fail to move
it lower. We also will use support as
potential price-reversal locations at the symmetry and double-top support levels
below us. As we test the support at
1651.2 we are looking for our entry-timeframe to give us the entry long.
trading strategy for Gold is to buy above the PLOD if the sellers fail to move
it lower. We also will use support as
potential price-reversal locations at the symmetry and double-top support levels
below us. As we test the support at
1651.2 we are looking for our entry-timeframe to give us the entry long.
