What I'm looking for now is a pullback that will allow another entry from lower price levels.
The completion zone near 120$ is an interesting pattern to focus on during the next two weeks. We've already seen some reaction last week that generated a and an on the last two trading days, but perhaps it's a bit premature to determine that the pullback has started.
The rules suggest that you should place a stop loss above 126$ and set 113$ and 108$ as potential target zone. The pattern, if it will be triggered (price must close below the Pinbar's low), allows to place tighter stop loss – above 122$.
I assume that such strong move, as seen on $GLD, will not end with a single peak. Perhaps a re-test of 120$, or even a spike above it that will create False Break to Thursday's highs, will provide a better technical reason to trade the potential pullback in Gold .
Tomer, The MarketZone
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