GOLD – SPOT: Selling On Breakdown Of Potential Bearish Multi-Bar Fakey Setup
Price Action: Price formed a Bearish Tailed Bar Signal late last week (We are not considering trading this signal).
Price has been forming a Potential Bearish Multi-Bar Fakey Setup since Tuesday, Sep 6th (This setup will only trigger if price breaks down below the Mother Bar).
Price moved lower from the Bearish Pin Bar Signal that had formed on Thursday, August 18th (We did not consider trading this signal, nor did we mention it at the time it formed).
Potential Trade Idea 1: We are considering selling on a breakdown of the current Potential Bearish Multi-Bar Fakey Setup.
Potential Trade Idea 2: We are considering selling on a retracement higher whilst price remains under $1765 short-term resistance level that coincides with the recent Bearish Pin Bar Signal that had formed on Wednesday, August 18th.
Price Action: Price formed a Bearish Tailed Bar Signal late last week (We are not considering trading this signal).
Price has been forming a Potential Bearish Multi-Bar Fakey Setup since Tuesday, Sep 6th (This setup will only trigger if price breaks down below the Mother Bar).
Price moved lower from the Bearish Pin Bar Signal that had formed on Thursday, August 18th (We did not consider trading this signal, nor did we mention it at the time it formed).
Potential Trade Idea 1: We are considering selling on a breakdown of the current Potential Bearish Multi-Bar Fakey Setup.
Potential Trade Idea 2: We are considering selling on a retracement higher whilst price remains under $1765 short-term resistance level that coincides with the recent Bearish Pin Bar Signal that had formed on Wednesday, August 18th.