Day trading course looking at Gold, Treasury and the S&P500 emini futures.
Gold trading and price movement. First point to be clear on is that Gold is a measure of Volatility in the markets. It is not the Risk on, Risk off trade that you hear on investors news channels. Golds price structure is very dependent on the volatility in markets and will see velocity in price movement as volatile news hits the market. For instance, the collapse of the Euro, when the price of the Euro for the US dollar started this move down we did not see the price of gold move up, instead we saw dollar strength moving Gold prices down. It is when Dollar's normally hit a high against the Euro and there is volatile news, that we will see the inverse relationship between gold and US dollar index separate. Gold futures has support at 1530 with three attempts at support and recently price failure on the move to break 1530. Today's move on gold sets in a higher low with support coming in off of 1550 for the break of resistance an our previous floor at 1620 becoming the Ceiling. Watch for this to be broken into the close with a target price of 1625-1630. This will be kissing the resistant trend line on the mid term Bearish pattern. For the buyers to take control this will have to be above 1650 with a move getting through resistance at 1676-80. The Bond Market has also seen buying into this risk off scenario where Europeans are fleeing the Euro.
[...] day trading course
