Chart of the week
Date: 10/19/2009
Symbol: GOLD
TRADING PLAN
Entry price: above: 76.200
Stop price: under: 74.00
Target: 80 - open
Chart explanation: GOLD trying to bounce from daily 10sma support area (brown line) and reached new high after breaking triangle. I’m interested for continuation and I will look for long setup above Friday high. For stop we can use Friday low and intraday low (what will be case for now). If we will see gap down at Monday but still above Friday low I will still look for long trade on new highs. For start I want GOLD above 10sma on the daily chart and until will stay above it will be valid
If anyone have any question or need update feel contact me over email or in the live trading room.
Wish you all good trading!!!
Kind regards
Ivica
http://www.ivicatradingcharts.com/
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