May 1, 2013
- in Uncategorized by schooloftrade
Gold Futures day trading plan
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| Gold Futures Day Trading Plan |
We can see
the Gold Futures contract trading sideways into the FOMC announcement today @
2:00pm EST. We want to use our sideways-trading-range
set-up to buy-the-lows at support and sell-the-high at resistance. We will wait for price to test the lows of
the range, and then look for the price-reversal ‘W’ pattern to get us into the
long side. Our target for the buyers at
the lows will be back at the highs 1478.9 which is the PHOD.
the Gold Futures contract trading sideways into the FOMC announcement today @
2:00pm EST. We want to use our sideways-trading-range
set-up to buy-the-lows at support and sell-the-high at resistance. We will wait for price to test the lows of
the range, and then look for the price-reversal ‘W’ pattern to get us into the
long side. Our target for the buyers at
the lows will be back at the highs 1478.9 which is the PHOD.
If we push
lower below 1460.5 PLOD we will look for the fake-out-breakout first to see if we
can get an InsideOut Set-up going long above the PLOD, but if the sellers have
control below 1460.5 we will look for a short down to the next range lows of
1447.8.
lower below 1460.5 PLOD we will look for the fake-out-breakout first to see if we
can get an InsideOut Set-up going long above the PLOD, but if the sellers have
control below 1460.5 we will look for a short down to the next range lows of
1447.8.
