GOLD – SPOT: Waiting For A Pullback To ‘Event Area’ Support
GOLD – SPOT: Waiting For A Pullback To ‘Event Area’ Support
Price Action: Price moved lower from the recent Bearish Pin Bar Signal that had formed earlier this week (We did not consider trading this signal).
Price moved significantly higher from the prior Bullish Pin Bar Signal (Event Area) that had formed around 3 weeks ago (We suggested trading this signal in the April 4th, weekly newsletter and hopefully some traders got on board).
Potential Trade Idea: We are considering buying on a retracement lower to within the range of the prior Bullish Pin Bar Signal (Event Area).
Price Action: Price moved lower from the recent Bearish Pin Bar Signal that had formed earlier this week (We did not consider trading this signal).
Price moved significantly higher from the prior Bullish Pin Bar Signal (Event Area) that had formed around 3 weeks ago (We suggested trading this signal in the April 4th, weekly newsletter and hopefully some traders got on board).
Potential Trade Idea: We are considering buying on a retracement lower to within the range of the prior Bullish Pin Bar Signal (Event Area).