June 27 Chart of the Day - Gold
Precision oriented price action technical analysis by far provides the best edges and most setups for traders and investors across the markets so that's what we use for the basis of our reviews
Gold (ticker /GC on Think or Swim) has been on a massive bull run making multiple new all time highs (ATH) since Thanksgiving 2023 time frame and now it's becoming almost a weekly occurrence.
The video below is an excerpt from ChartPros Price Action Trading and Mental Performance Boot Camp session on June 26, 2024. Follow along with ChartPros Founder Tom Winterstein as he analyzes Gold as our featured Chart of the Day.
We have featured over 220 Charts of the Day during the past year and teach Price Action Trading for FREE to traders who join our Highly Rated Trade Room.
Weekly Chart
Daily Chart
Only time will tell for sure what price will do next...
We've layered in traditional support/resistance levels as well as an additional trend line to help identify potential price levels of interest and/or future price targets.
Armed with precision oriented charts like these both traders and investors can formulate their respective plans.
So what's next?
We don't make predictions...
Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.
- Support/Resistance
- Trend
- Fibonacci
- Supply/Demand Zones,
- Change Control Zones
ChartPros provides the exact methodology in its price action technical analysis courses to create charts like this with the most precise and accurate levels from which investors and traders can formulate their respective trade plans.
Take a look at the charts and let us know what you think.
We'd like to hear from you in the comments sections.
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