okay so many people are wondering how I caught the gold fake out perviously the day before on march 5th. The time frame your currently looking at is the daily but if you go on the hour and click the market replay button on trading view you can see how it played out before it happen & the fake out was incredibly hard to catch)
if you look at the wick on March 1st you will see how price formed a very long wick with a small body. This is a major reversal in price!
even when you go and measure the wick you will see it was 165 pip pull back all the way to the top. ( major seller fake out)
The day after price push near of that gold resistance ( how ever there was a lot of volatility above that resistance line)
and price already wicked up 165 pips why would it go back down ? Especially if it closed higher the next day. and there was resistance at 1338.00-1340.00 so I was logically think this has to be a fake out price has much more time to move. & went over 170 pips.
if you look at the wick on March 1st you will see how price formed a very long wick with a small body. This is a major reversal in price!
even when you go and measure the wick you will see it was 165 pip pull back all the way to the top. ( major seller fake out)
The day after price push near of that gold resistance ( how ever there was a lot of volatility above that resistance line)
and price already wicked up 165 pips why would it go back down ? Especially if it closed higher the next day. and there was resistance at 1338.00-1340.00 so I was logically think this has to be a fake out price has much more time to move. & went over 170 pips.
MRXAU