Simple trading - "M" Pattern
Massive Sell-off incoming
This is by far the easiest pattern to spot. Do NOT follow the trend anymore. Respect the pattern. A retest to 2340 with rejection is a clear sign of new resistance.
If Gold can manage to break above 2345, then look to continue buying.
The two entries I'll be looking for are SELLS at 2340 with a 50pip stop (if the market continues to buy) and at 2315 after the break.
See the previous chart for more details
Massive Sell-off incoming
This is by far the easiest pattern to spot. Do NOT follow the trend anymore. Respect the pattern. A retest to 2340 with rejection is a clear sign of new resistance.
If Gold can manage to break above 2345, then look to continue buying.
The two entries I'll be looking for are SELLS at 2340 with a 50pip stop (if the market continues to buy) and at 2315 after the break.
See the previous chart for more details
