Price break through the uptrend trendline but now it is not peak trading hour for gold, with such a weak volume break out, I would hold and take action only when price goes down below 1230.30 (which satisfied 2.618 target gain for put, under 5 mins chart) or go back above the trendline.
Green boxes are going to be my entry levels for long or short, guess the battle will start soon at around 12:00 GMT.
Comments
GingerBear
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Didn't set target gain when I posted the blog, my bad. This chart is posted for trading in shorter time frame, with a well stop loss, I couldn't earn any $ when the price went up above the green box because the price moved too fast. I could catch the big move when price went below the lower green box and closed my short position at 1214, which was a 13.00 USD gain.