Gold – More Short Confirmation

23 Sep - Gold Daily(Click on image for larger view)

Hi All,

Looking at the Price Action on Thursday. A break and retest of the near term upward channel to move south was just a good short opportunity (on Friday).

While some were probably nervous about the long bull trend bar (on Wed after FOMC statement release), that was actually an Exhaustion bar rather then a Charge bar.  These are the different types of trend bars that I discussed in my book “How To Read Price Action? War Stories of Buyers Vs Sellers“. Anyway, I already have a position running and I’m looking for more short entries from here.

Happy Trading week!

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