This ideal trade setup happened yesterday and I posted it to watch closely. All trading systems are probabilistic by nature. This is why the advice the trend is your friend echos true, we want the odds on our side. Here in gold we have a long term trend up indicated by the 89 day simple moving average over the 89 week simple moving average. Recent price action has decreased quite rapidly creating a great trading opportunity in the direction of the longer term trend.
Fractal momentum has reached a maximum to the negative and the fractal acceleration has turned back to positive indicating that the steam has all but been exhausted.
One could buy the future contract or sell the put option for more of a conservative approach.
Fractal momentum has reached a maximum to the negative and the fractal acceleration has turned back to positive indicating that the steam has all but been exhausted.
One could buy the future contract or sell the put option for more of a conservative approach.
Comment:
We are awaiting for price to bottom again to go long again.