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Gold & SP500 Consistently Profitable Trading Charts

Its been an exciting day with the SP500 breaking below this mornings low using the regular trading hours 9:30-4 for this analysis. As i mentioned before I don’t trade during the afternoon. Most large moves tend to happen between 9:35am – 11:30am, and 3:30-4pm. I did mention at 11:28am this morning in the chatroom that if we saw this mornings low broken then we should see a short drop. Below is a chart of how it has unfolded so far today.

Also in this mornings pre-market video I pointed out how gold looked ready to drop again with the mini head & shoulders patterns and bearish volume levels. We saw a nice drop this morning which is posted in this chart below.

Overall we are waiting for a larger setup using the 60 minute chart and daily charts for some sizable setups. As most of you know I do point out trading opportunities in the chatroomn for those of you who are more active with some experience under your belt. But to be honest these quick intraday moves are just to fast for me to type up an alert, send it out, then have everyone read it and take action if the setup occurs. Those of you who do not feel experienced enough for these quick day trades can just stick with my momentum trades which are based on the 60 minute chart and the swing trades as they come available.

That being said I am looking into some live webinar services so you can view my screen and hear me talk during the morning or afternoon hours depending on the market conditions. I’m not saying this is going to be the way of things going forward but I want to test it out because I do think it will be much better than just a chatroom and we can do more trades over the long run as well.

Chris Vermeulen

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