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.

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Corey Rosenbloom, CMT

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