Free webinar on FuturesPros - Futures Trading 101
Expert: Scott Hoffman
When: Wed, Jan 13, 2010, 16:00 GMT
Register for this Live Web Event and watch 23-year futures market veteran Scott Hoffman trade the futures markets using his time-tested swing trading methods!
Using current markets and trades, Scott will show you the patterns he uses to identify swing trades with low-risk parameters. Get a jump on the market by learning how to spot futures markets set up for potential breakout moves. Avoid getting caught on the wrong side for too long by letting the market “tell” you when the trend is changing, where to enter and how to exploit trend changes. Most importantly, you’ll get risk management strategies that can be critical to your survival as a trader.
Scott is an active futures trader and educator who publishes 2 trading newsletters, produces frequent webinars and often provides commentary for industry insiders. Regardless of your experience level, you’ll learn valuable trading skills you can apply immediately. You’ll also get the opportunity to ask Scott questions about his methods and services.
Click here to join free: www.futurespros.com/live-events/webinars...
GOLD Visual Trading Update
Current Trading Plan:
Last Closed position @ 1125 ($17)
Long: Over 1140
Short: Under 1070
Technical Indicators Notes:
This is a classic 5 waves up (from 1088) of wave 3 or C. Now a wave 4 down is developing (maximum 1114) or we see the resuming of the downtrend. RSI (Daily) going under 50, and the MACD (4H) going under 0 will be vital factors of the C scenario.
Simple Moving Average (20) – Green
Support & Resistance price areas: Brown
Trend lines and Channel Boundaries: Blue
Indicator trend lines and effects: Magenta
Long: Above the wide Green line.
Short: Below the wide Red line.
Exit position: On crossing the wide Cyan line.
Futures Trading analysis written by Moshe Shalom for FuturesPros
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.