PlanTradePlanMM
Short

GLD short, at resistance

AMEX:GLD   SPDR GOLD TRUST
Identify Price action:
1. Sideways; Find: Support and Resistance
2. pre-support became resistance
3. ABC pattern

Short Entry 180
Stop 181 -- For stock, $1 stop is very easy to be triggered.
Target 175; reward:risk=5:1
Target 170; reward:risk=10:1

Use Option to play this Game.

I am not a PRO trader. I need few months to practice trading strategies.
If you like this idea, please use SIM/Demo account to try it, until my trading plans get high winning rate.
Trade active: Option trade: BuytoOpen Oct P177, limit 0.94; 11 days left
No Stop; Gamble with high Reward Risk Ratio.
Trade active: GLD price down to 177.8
Sell offset P174 Limit 0.74 -- to reduce initial risk, and deduct timing value
Current P177/174, risk 0.2 for 3.
Trade closed manually: close Limit 0.3. small winner.

Comments

dang this is panning out nice! Good analysis!
Reply
I agree
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out