Gold has been consolidating in the parallel channel sense the 25th and has just broke above it. What really have gold the power to break through was the micro bull flag that has formed inside on of the parallel channel . Both of which have now broken out. Gold may revisit its recent highs of $1,950.
Trade active:
entered a small long on the back test, tight stops set.
Trade closed: target reached
Comment:
As I existed this long trade I also entered short, tight stops in place! so far, so good.
Trade closed: target reached:
Short has been closed, two fast and very profitable trades.