Gold Short!
Here's how I shorted Gold from the upper yellow box.
This was an area of resistance. It was also the high from last Friday.
Price rejected off here, but eventually made it's way back up obeying a trend line.
Once near the resistance again, price had trouble moving up.
The yellow circle is where Gold wicked up, but created a Shooting Star. I was convinced price would move down.
The next clue price would continue down was the very next candle-a Bearish Engulfing which broke through and closed below the trend line.
Price continued dropping back to the consolidation area.
This was an area of resistance. It was also the high from last Friday.
Price rejected off here, but eventually made it's way back up obeying a trend line.
Once near the resistance again, price had trouble moving up.
The yellow circle is where Gold wicked up, but created a Shooting Star. I was convinced price would move down.
The next clue price would continue down was the very next candle-a Bearish Engulfing which broke through and closed below the trend line.
Price continued dropping back to the consolidation area.
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