The Dollar Drop and the Gold Surge August 28
Mon, Aug 28, 2:11 PM ET, by Corey Rosenbloom
We don’t fight or fade trends in motion, and the big gap-and-trend action in both the US Dollar Index and Gold remind us why we hold this core trading strategy.
Let’s take a look at the “gap-and-trend” action:
The key resistance level – and target – for Gold was $1,300 and buyers shattered this level today, triggering a breakout event.
Similarly, the downside target for the Dollar was $92.50… and sellers shattered support.
Continue following these actions and these key price levels:
$1,300 for Gold and $92.50 for the Dollar.
Frame your new trades in terms of the DEPARTURE from these key price levels.
Come join us to learn these tactics (beyond this simple/quick update) and have an evening game plan you can use effectively for the next trading day.
Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.
Corey Rosenbloom, CMT
Afraid to Trade.com
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Corey's book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).”
SDI Glossary: "price" Definition
SDI Glossary: "Finance" Definition
SDI Glossary: "Stock" Definition
SDI Glossary: "Trend" Definition
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