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Chris Capre
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Chris Capre is a professional forex, index futures and commodities trader, specializing in Price Action & Ichimoku trading. Chris applies his methods to the markets both intraday and medium term swing trading, and has been trading for over 13 years. He is also the manager for a private fund... More
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  • Gold Pullback Into Dynamic Support Holds | Dec. 11th 0 comments
    Dec 11, 2012 9:57 PM

    Gold
    In my market commentary from yesterday on gold, I suggested gold will likely pullback into the $1705 dynamic support, along with a follow up suggestion to look for longs off this level.

    This played out to perfection and price is now just above $1711.30, so hopefully you were able to make some profit on this one.

    For now, the precious metal is stuck between the $1705 and $1715 levels until tomorrow, where the FOMC meeting should inject some volatility into the markets, especially Gold. I am expecting a break of these levels, so bears can look for shorts on a breakout retest of the $1705 support area, while bulls who are not already long can look for a price action setup above the pin bar highs from yesterday.

    (click to enlarge)

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