The Dollar Drop and the Gold Surge August 28

Aug 28, 2017: 1:08 PM CST

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.

Afraid to Trade Premium Content and Membership

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

Follow Corey on Twitter: http://twitter.com/afraidtotrade

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).”

Comments Off on The Dollar Drop and the Gold Surge August 28

Comments are closed.