Charts: Futures recap 08-August-2006

August 9, 2006 – 9:38 am

If one of the trading rules is 'You don't need to trade everyday', Fed meeting day might be a good day to take a break from trading. Again, I decided to leave index futures alone for the day, and turned my eyes to commodities.

Well, Gold did not have a good run. I was pretty lucky since my broker did not set up Gold contract to be tradeable in my account. My Long order was rejected. A nice entry set up above 10am(chicago time) candle for Long position. However, it was eventually by the wild swing @13:00 (chicago time) candle.

30-min chart of Gold 100z Futures 

Here is 30-min chart of Mini Dow futures. again 13:00 (chicago time) candle will stop out any position. 

 

Not so good for the first two days of the week. I am still flat for this week.

From the desk of Tradergav.com


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Read more on Investing In Gold, Futures at Wikinvest

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