Best Way To Avoid Losses

The real clue on this chart is the resistance trend-line coming down overhead because that’s going to be an easy way to lose money tomorrow.

Knowing this, my plan is to avoid buying into the trend-line by using a crown reversal pattern down in the battle-zone.

Gold is Bearish with a 123-Breakout

Gold is bearish after sellers got a successful 123-Breakout with a strong spike lower.

I don’t want to chase the market lower because the easiest way to avoid losses is to wait for price to pullback to the high of the new channel and look for sell set-ups going lower from there.

Euro is Rolling Lower (Still!)

The Euro is bearish and still rolling quietly lower on the chart.

The big clue, however, is the lack of any real pullback – nothing!

This tells me that sellers are patiently waiting to sell into any deep pullback, so my plan is to wait and look for counter-trend buyers to try and fail.

1 2
View single page >> |

Disclaimer: Join our Free Trading Course. Joseph James, SchoolOfTrade.com and United Business Servicing, Inc. are not registered investment or ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.