The highlighted area on the 1hr chart 2pm Friday 17th.
Price breaks and hold below the Kijun Baseline, with adequate volume. I took a small sell at this point which quickly moved 300 pips over the following hour, before pulling back slowly over the rest of the evening. If price fails to break back (and hold) above the baseline, I will be looking at heavy shorts, possibly Monday or Tuesday after the bank holiday.
Price breaks and hold below the Kijun Baseline, with adequate volume. I took a small sell at this point which quickly moved 300 pips over the following hour, before pulling back slowly over the rest of the evening. If price fails to break back (and hold) above the baseline, I will be looking at heavy shorts, possibly Monday or Tuesday after the bank holiday.
Note
For clarity... Gold is still in a strong Bull market and i'm not selling long term. I'd expect maybe 500-600 pips maximum movement from this before the next wave up.Trade active
Perfect example of how to have an opinion, but not to enter blindly. Didn't get the close below, and not only was it a no-trade, but Gold carried on powerfully up and is still going.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.