Monday 27 February 2012

Gold false break!


We've seen a false break of the Bullish Flag formation and clear rejection on the 4hr chart above.  I will be looking for an opportunity to get short with a tight stop above the top of the recent hammer candlestick.  Normally I wouldn't advocate trading against the trend but this is such an obvious set-up with a predetermined tight stop location so I will leave it to your discretion.

No comments:

Post a Comment