Tuesday, April 26, 2011

Gold Holding Above 1500 After Dipping Below

*click chart above to zoom in on gold chart*
Gold fell below 1500 temporarily but has since retook the psychological level. As noted in my chart above the bulls have been in charge of this daily move since Feb. 08 2011 and the first wave up of the move began on Oct. 02 2010. Of course Gold has been in a Secular uptrend for sometime but for us day traders a trend is a trend. The 2 indicators in this chart do not repaint after bar closes and are featured in my trading system (1 indicator (not shown) slightly repaints in my trading system but if you follow my rules it is easily dealt with and offers valuable signals). Click here for my full trading system

This system when used with proper money management and stop losses is profitable for me. The key is using the right time-frames.

1 comment:

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