I am not a professional trader but I have been trading for a number of years. During this period I have had mixed results in terms of winning and losing trades.
From my previous experience from what I have learned over the years, I thought it would be helpful to me and maybe to others to share some of that knowledge. I will not be recommending trades in this blog but from use of the rules and tools I am going to use they may also be helpful to others.
I have found one of the golden rules to trading is to stick to the rules of whatever system you are using and to keep things simple.
Here is my first example of a recent trade in gold which I made. The chart trend and pattern indicated where I put on a sell spread bet.
Firstly here is an example chart chart.
The price had been trending downwards for some time and had broke the key support levels around $1600. Some profits were taken at 1570.
You may have also noticed a downward sloping triangle pattern, high volume selling and a gap down in the share price prior to the breakdown below the $1600 level.
I hope you have found this interesting and look forward to future posts.
