Trading Gold using TradersHelpDesk indicators gave a great long signal last night into the uptrend. This is almost identical to the setup I posted earlier this week on Crude.
Trading Gold Using TradersHelpDesk Indicators
On the 12-minute chart below, the yellow dotted line shows the divergence between price and the TradersHelpDesk Stochastics. Price is making higher lows. The Stochastics is making lower lows. This should not happen and when it does, you can expect a really nice move off of it. In addition, price has retraced to the Average True Range stop (blue plus sign) on the chart. As price retraces the TradersHelpDesk Directional Volume indicator shows that sellers are DECREASING. In other words, sellers are not interested and this will provide buyers the perfect opportunity to step in and take price up.
The small red line on price indicates the trailing stop. Traders can use this stop on touch or on close. The entry was at 1161.7. A touch of the red line was at 1163.7 or, if using on close, the exit was 1164.3.