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DesharedPierreJr.
May 17, 2023 2:03 AM

Counter trend Opportunity 5min chart. Long

GoldOANDA

Description

Gold broke down to a Low on the 4H however it didn't confirm the break with a new bearish candle but rather an indecision candle followed by a bullish engulfing. This counter trend setup is based on a false break. the 1h TDI is still bearish. This setup is based on the 30min and 5min already up trending. This is attempting to buy the pullback.
Comments
DesharedPierreJr.
I was too early to an uptrend that wasn't ready to become ultimately bullish yet. Price hadn't reversed from a strong support.
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