Looking for repeat pattern to confirm trading plan
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No Repeat Although I'm Still expecting a BEARISH movement which roughly follows my plotted course.
The market seems to be rather volatile today 7/72016. i will not be trading LONG until price exceeds new heights of say 1370. Or SHORT until price drops to 1355. but even then I still don't trust today's market so i will be waiting for retests in either direction.
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I LEFT THE LATTER YELLOW PLOTTED COURSE OPEN ENDED AS I HALF EXPECTED SOME BULLISH UNCERTAINTY. AS WE CAN SEE THE PRICE BRIEFLY TOUCHED 1335.35 ON 07/082016 AT 12;00 ALMOST RIGHT ON QUE FOR THIS TRADING PLAN. (VERY EXCITING!!!)
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BOUGHT AT 1328.54
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JUST TOOK PROFIT AT 1342.00 AS IT MIGHT RETRACE TO 1338.00 AT WHICH POINT I MAY BUY AGAIN
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HOWEVER WE REALLY CAN'T TAKE OUR EYE OFF THE BALL HERE
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BEST BEING SAFE AT THE MOMENT!!
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if i BUY at 1338.00 then i might put my SL at 1335.00 but i cant be sure until it's bounce back where i will very quickly cross reference tick volume, trend lines, 1M, 3M, 5M,10M AND 15M charts, linear regression, wilders smoothing and weighted moving average.
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PS i always use these things to trade Gold at the moment.
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(EARLY HEADS UP) 1350.00 MIGHT BE A SAFE PLACE TO CONFIRM BULLISH RALLY TOWARD 1370.00
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Price breached RED LINE above LINE A so i'm expecting further regression