GOLD – SPOT: Selling On Retracement To Within The Range Of Bearish Multi-Bar Fakey Setup
Price Action: Price moved lower from the Bearish Multi-Bar Fakey Setup that had formed mid-last week (We suggested selling on a breakdown of this setup in the Sep 22nd, members' daily newsletter).
Price exploded lower from the prior Bearish Multi-Bar Fakey Setup that had triggered early last week (Price just tickled above this Setup, before collapsing back down), (We suggested selling on a breakdown of this setup in the Sep 12, weekly newsletter and hopefully, some traders got on board)
Potential Trade Idea: We are considering selling on retracement higher to within the range of the most recent Bearish Multi-Bar Fakey Setup that had triggered late last week.