informedtrades
Short

Gold Fails at 200 EMA

COMEX:GC1!   GOLD FUTURES
246 2 0
I'm not actually shorting gold             here, as a I'm a long-term bull , but technically, we did see a failure at the 200 EMA. If support at 1280 doesn't hold, this could confirm a pattern of lower highs and pave the way for a re-test of major lows at 1180. Though given my bullishness I'm more interested in looking for signs of bottoming and corresponding buying opportunities rather than selling opportunities.
That is not an evening star pattern. The pattern consists of 3 candles, one of them should be an indecision candle. When I look for candle patterns, I do alow some flexibility, but here you would have to stretch the rules too much in order to get an evening star.
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informedtrades vlad.adrian
2 years ago
I see what you are saying; I guess I was referring primarily to a strong down day, especially relative to the preceding candles, right as price hit the 200 EMA.
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