Price Action – Day Trading & Swing Trading FuturesDownload from Mega storage 2.5GB
What is price action and what is day trading and swing tradding?
Let’s start at the start. First, prices rise. The price of gold fell from around $900/oz.
in July 2008 to around $570/oz. by June 2011. This is the most commonly cited swing in gold trading.
You want to take advantage of price fluctuations? Then buy on low and sell on high.
This is trading on the direction and strength of gold.
With that trade you don’t expect to make huge profits as swing trading generally entails trading on a more than one day basis.
Is it worth it? How do you swing buy and sell gold? How can you price gold accurately?
What do you buy and sell?
There’s an alternative to swing trading. Do a day trade, do it on a daily basis, and trade gold on the long and short side of the market. The fundamentals of gold are unchanged. At today’s prices gold trades at an average of $1,060/oz.
It should be noted that gold trading on a daily basis takes trading volume to a whole new level.
You need to do your trading on the right day. Why? Because on that day gold trades much more freely and that’s what day trading is all about.
When gold swings on the long and short side of the market it’s much easier to swing sell and buy, even at swing prices, than when gold trades in a bull or bear trend. If you want to trade gold and know day trading is your trade preference, you have two options.
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Buy gold on the dips and sell gold on the highs. This is trading on the direction and strength of gold and there is no swing.
There are simply long and short trends in the gold market. -
Do swing trading, the swing, with both long and short positions. Here is where swing trading is done, on both day and short time frames. The swing takes trading volume, pricing, the time required, and experience to an entirely different level.
This is where swing trading is a very advanced trade.
A swing trade is trading on the direction and strength of gold. In other words, you are trading based on the direction and strength of gold on one day and you’re trading on the same day on the long and short side of the gold market.