Mini Gold Futures moved up nicely today. Current price is 1167.80. We are close to the high from 4/12/10 now. If you are a conservative trader, you are going to tighten your stop drastically, not to give back the profits to the market. Therefore, the conservative trader can use the Tenkan Sen or Kijun Sen off either the 120 minute or the 30 minute timeframe. For the aggressive trader, you will exit out 75% of your positions here and let the other 25% of your positions “run” until the trend is over. We will use the Kijun Sen off the 240 minute timeframe minus a buffer. The KS on the 240 is 1146.6.
For EDUCATIONAL USE. Commodity Futures Trading Comission, Forex, Futures, Equity and options trading has large potential rewards, but also large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provide d on the Blog is for educational purpose