Trend Trading Gold - Is It All About To Change 7-Feb-16

Trend Trading Gold – Is It All About To Change

Pointed out to me by some Pro Members this week – Ones that are more keen on GOLD trading than I am.

The No Indicators Trend Trading Strategy (NITTS) is included in our comprehensive Pro Membership package.

On the GOLD chart below, according to the NITTS I have identified…

  • The Entry
  • The points where the previous Lower Low was broken
  • The new Lower High, made since each Lower Low was broken

Trend Trading Gold - Is It All About To Change 7-Feb-16 Chart

According to the strategy, when Short we place our Trailing Stop at the Lower High. We also have a Long Marker Order in place at the same level to go Long should we get stopped out (so we are “always in”).

Why mention GOLD now?

Well, as can be seen – The downtrend has been in place now for almost 3 years. As can be seen we are also very near, for the first time in years – To breaking a Lower High, around the 1195 level.

If the crowd can push price above that 1195 level – It would be a clear indication that the downtrend is over and a new uptrend is in place. According to the strategy, we should no longer be Short, we should be Long.

NOTE: There is an update on this trade HERE

All comments welcome…

The No Indicators Trend Trading Strategy (NITTS)
Can Be Applied To ALL Instruments On ALL Time-Frames
It is included in our comprehensive Pro Membership package available HERE

DISCLAIMER & COPYRIGHT

This update is based on my analysis on my charting package. It may differ to yours as it can be affected by time, market movements, charting packages and broker prices. I accept no liability for loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on any information in this report or analysis.