6-13-2012 Wednesday - Henry

Sorry so late on this one....

Wednesday 6/13/2012 14:33
G/U

H2 Chart
Sequence trend: Up
H2 Gold: Down, but no full bar confirmation
H2 DMI: Up
H2 range between inner bands: Upper -1.5578 Lower - 1.5538 (40 pips)
H2 TI trend: Up
2 hour Romar / Simple spread: Simple - 1.5467 Romar - 1.5525 (58 pips)

H1 CHART
Sequence trend: Up
H1 Gold: Down
H1 DMI: Down
H1 range between inner bands: Upper -1.5587 Lower - 1.5531 (56 pips)
H1 TI trend: Up

Still in consolidation with the sequence trends showing up and the gold trends showing down. I am inclined to look for the long with the sequence trends up, plenty of support, and the Golds tightly within the trading area. It would not take much of a move up to sync the Golds back into and uptrend.

1. Long on a hit to H2 Romar or H1 Simple, with H1 TI still not crossing ema
2. Short on an open candle below H2 Romar, with H1 TI/ema cross.

Long GU @ 1.5539 on near hit to H2 Romar and hit to H1 flat band with sequence trend still showing up.

TP- 20
SL- 20

EDIT-
Out -20.

Evaluation- poor entry with Gold Trend showing down. Should have been more patient to see if H2 Romar would be broken.