The chart below is the daily chart of gold. Note the pin bar / fakey setup that occurred last week which has sent prices higher this week. I actually took a fair chunk of change out of this setup and I wanted to show everyone.
There are some simple principles at work here:
There are some simple principles at work here:
- Momentum was clearly higher as evidence showed by the 8 / 21 day emas crossed up
- We then got a clear (minor) fakey with pin bar setup. (Nial explains the minor fakey in his member's section)
- Price moves up into next resistance near $1390.00 / ounce
- Very cool trade.
No comments:
Post a Comment