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Friday, January 4, 2013

Impulse Setup on Gold

As a continuation of yesterday's Post where We explained the Impulse Setup, today We had an excellent example of this Setup on Gold ( GC )
In the attached chart we can see how after the Employment Report at 8:30 ET, the Gold Market had some quick moves almost impossible to trade ( take a look at the  TIS_Bar_Time indicator at the bottom of the Chart showing several bars with time duration close to zero ).
After Maket calmed from the Report reaction, the Bar duration returned to an average of 30 seconds and We had 2 signals ; 
A Short, with only target 1 available ( 10 to 15 ticks ). Rest of position out at break even.
A Long, with first and second targets, and also a possible runner with trailing stop
 If you liked this setup or have any questions and suggestions please post and share !