'Trading is a process of observing the market's action until such a time you can find and form trading ideas and get involved.'**

Sunday, August 11, 2013

Sunday's Gold Trade Setup

Able to spot this price action from the Globex market and was quite successful in 'digging' the Gold for a nice opportunity. Got stop out on the first try but due to price action interpretation, tried to come back and capture the big vertical leap from Gold. That's what you called timing the opportunity and as what Jesse Livermore, the famous trader known for, it's the 'sitting that's making me money' (because I've been sitting from my trading table one hour before the Globex market has to open and was imagining/analyzing the market).

Here's the chart and how to be a Gold 'digger'!