Part 1
Gold was trending up nicely for a while!
Then, it decided to drop; and it dropped over 500 pips in just over a day. Why?
I couldn't understand why it wasn't drying to continue to climb for several reasons.
1. It was in an uptrend.
2. It broke and closed above the 1900 level several times.
Here's what I missed:
1. The uptrend was broken and retested as...
Gold has some interesting signs for moving. Some of these signal a small reversal, some a large reversal, some just show that it will move in the opposite direction and give you some pips if you take the trade.
Yellow on the Daily are massive double bottoms or double tops.
There are a lot of double bottoms and double tops on the 1 hr as well. (Green)
I noticed...
I have included just a couple thoughts here on the chart for my analysis. Take a look and see if you agree or disagree with me. I'd love to start a conversation about it and see what happens in the future. All the best to you and your trading!
