Analysis of my 80 pip Gold Buy!Analysis of my 80 pip Gold Buy!
Monday was extremely bullish. Huge gains were made. Very importantly too, gold closed above this massive trend line which started on August 25'th. These two reasons gave me look for more bulls today and buy up.
I bought on the candle with the arrow.
At first, it looked as if a double top was going to be formed. A push up, consolidation, drop down, Bullish harami, Large bullish candle followed by a doji.
The Doji was a bit more confusing, however, I remembered the overall bias for today along with the trend line consolidation, and waited for a good chance to buy.
Thankfully, I was able to hold it long. I originally picked an extremely far tp goal.
I believed that if I held it long enough, I could make a lot of money. That faith helped me to hold for 80 pips.
I've seen other traders trade for 80 pips and I believed that I could too.
