February 27, 2013
- in Uncategorized by schooloftrade
Gold Anchor Chart Prep
Gold Futures
are trading in the middle of the range from Tuesday which tells us to beware
the sloppy market personality in the middle will cause us to sit-on-hands and
wait for the test of the highs or the lows.
are trading in the middle of the range from Tuesday which tells us to beware
the sloppy market personality in the middle will cause us to sit-on-hands and
wait for the test of the highs or the lows.
Gold Anchor Chart Prep |
We can see a short term price-wedge which will be used to sell-the-high
at resistance and buy-the-lows at support along with giving us fake-out-breakout
opportunities with new higher-highs or lower-lows. The biggest clue we get today is being in the
middle of the range, and the price-wedge is the cherry on top. Easy clues to tell us to beware this may be a
challenging morning on gold.
at resistance and buy-the-lows at support along with giving us fake-out-breakout
opportunities with new higher-highs or lower-lows. The biggest clue we get today is being in the
middle of the range, and the price-wedge is the cherry on top. Easy clues to tell us to beware this may be a
challenging morning on gold.
We can see a
short term bear price-channel, which will help us make educated trading
decisions later this morning, and remember we want to sell-the-high at
resistance of a bear price-channel, but we still need to get this price-action moving
better first.
short term bear price-channel, which will help us make educated trading
decisions later this morning, and remember we want to sell-the-high at
resistance of a bear price-channel, but we still need to get this price-action moving
better first.
 |
Gold Anchor entry Prep |
Our day
trading plan for gold is to stay patient and wait for the test of the lows or
the highs of the short term trading range.
If price moves higher we look for the price-reversal followed by entry
signal short at levels such as 1613 and 1614 all the way up to 1619.5 PHOD. If price moves lower we will look for the price-reversal
at support followed by a long entry signal at support levels such as 1602.7,
1600 big-round-number, and 1595.1.
trading plan for gold is to stay patient and wait for the test of the lows or
the highs of the short term trading range.
If price moves higher we look for the price-reversal followed by entry
signal short at levels such as 1613 and 1614 all the way up to 1619.5 PHOD. If price moves lower we will look for the price-reversal
at support followed by a long entry signal at support levels such as 1602.7,
1600 big-round-number, and 1595.1.
