If a market can only send you signals then they were all there to see with Gold today.( see the three small charts). The failure to break above the RL after last nights rapid rise. The sell-off this morning and then the pattern at the RL around the .618 Rt level should have told/warned me. I had a OK profit result last night and was very lucky not to loose money today but for a market so strong last night it seemed incongruous to have more than 50% RT and we saw no energy at all today- Put it down to professional/Interbank selling . I have never cared whether a market goes up or down but seek simply to see a trend clearly. There is no doubt if you have read previous posts how important this level was and now the technical picture for gold is very bearish and i will look for a short position to see the first test of 1300. Any MT setup to be posted.
No comments:
Post a Comment