Thursday 8 December 2011

Gold anatomy of a short trade trigger/reaction line






I dont have time to write this up yet but target its a break of 1700$ and ultimately 1680 ( see prev post) and i am not sure if i will close position tonight(on break of DS reaction line -arrowed) as we now have a HL and this is a big pshyc level (1700) and we may go back to the upper DS reaction line at 1714 (or higher) before going lower. Two template used one HTF and one low and entrey using stochs/bline/Bolly bands+ multi confirmation TF's +divergence and of course at the crux of this is the reaction line itself. All dashed dark red lines are RL's. See the divergence in the stochs in both 1 and 5 min TF's.

No comments:

Post a Comment