GC1! - Gold Trap - Short
Updated
I read a ton of stories, how Gold & Silver will skyrocket. I agree, but not now. Here is my analysis, why I oad the Boat at lower prices.
The white pitchfork shows the most probable path of price. If price breaches the L-MLH (Lower-Medianline-Parallel), then it is a sign of a turn in direction. ( read again: "A sign", not a "prediction" ).
The Test/Retest: What's this?
It is, when price breaches the L-MLH, we can expect a test, or even multiple tests (re-test) of the L-MLH. Usually, after a second failed attempt to recapture the L-MLH (returning "into" the the channel of the pitchfork), we see price moving to the opposite side, in thtis case south.
[n]The target for price is allways the next WL = Warning Line (dashed white). It's just a doubeling of the same width from the CL to the L-MLH.
So, there you have it.
The current situation has a superb risk/reward. That's why I'l playing Gold to the south.
What if it's not working out? Well, then I'l hopefully get stopped out without price jumping above my stop/loss, and I'l wait for the next trade.
The white pitchfork shows the most probable path of price. If price breaches the L-MLH (Lower-Medianline-Parallel), then it is a sign of a turn in direction. ( read again: "A sign", not a "prediction" ).
The Test/Retest: What's this?
It is, when price breaches the L-MLH, we can expect a test, or even multiple tests (re-test) of the L-MLH. Usually, after a second failed attempt to recapture the L-MLH (returning "into" the the channel of the pitchfork), we see price moving to the opposite side, in thtis case south.
[n]The target for price is allways the next WL = Warning Line (dashed white). It's just a doubeling of the same width from the CL to the L-MLH.
So, there you have it.
The current situation has a superb risk/reward. That's why I'l playing Gold to the south.
What if it's not working out? Well, then I'l hopefully get stopped out without price jumping above my stop/loss, and I'l wait for the next trade.
Note
Here's an insight, a zoomed view to the GC1! chart above.We see that there's a "pressing" going on below the L-MLH, where I expected a test/retest.
These pressings mostly dissolve in hard break of the pressing line, hence to the south in this case:
Note
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