On the 13/05/2013 (check here the post) we suggested selling Gold after the Trend/Wave/Extreme system identified a sell signal under the 1 day timeframe. Gold eventually moved $60 lower giving is a massive amount of profits.
This was another great trade that was spotted by the Trend/Wave/Extreme system . Make sure you get your copy. No need to keep watching at your screen every 5 minutes. Just put the Trend/Wave/Extreme system on your system and spend only a few minutes to determine if you should trade and where the market is heading.
Bellow is how the setup looked before we placed the trade.
- A continuous down trend line
- The price rose for a while and bounced after finding resistance at the 38.2% fibonacci retracement level
- Trend (long term) indicators are pointing down
- Wave(short term) indicators are pointing down
- Chart pattern shows correction is over as it has resumed to move lower
Read about the Trend/Wave/Extreme system here.