Gold broke down on the 11 Nov 2016 through a large weekly level, on return to the last high before the breakout we get short. Confluence with fib retracement on that large move as well as todays ATR.
Note its Friday and Presidents Day on Monday, its a big level however so may consider entering and holding even with the weekend and holiday.
Note its Friday and Presidents Day on Monday, its a big level however so may consider entering and holding even with the weekend and holiday.
Trade closed: stop reached:
Unbelievably puked the high. The trade however overall was executed according to plan.
1) One point - we stopped into a pin bar with minor inflection point before it, perhaps watch.investigate in future stops into similar bars, and perhaps stop out over them
1) One point - we stopped into a pin bar with minor inflection point before it, perhaps watch.investigate in future stops into similar bars, and perhaps stop out over them
Some structure formed below but I think its mostly drift rather then strong resistance, hopefully a mean reversion on a slow Friday will help pull this back to main target