I shorted the FTSE last night seeing the bearish pin bar. I was a little cautious because the trend was still up so I knew that it was a higher risk trade and the market looked like it had lost momentum on the long side. However, I was wrong today as the market rallied and took out my stop.. Oh well, such is life in trading.. upwards and onwards!
The markets have been kind to me the last couple of weeks... quite a few signals and decent follow through on price action. So on Wednesday I had gone short on Gold.. the trend had been down and I saw the bounce as a retrace. You can see how the price got stuck around 1750 which also happened to be the 50% Fibonacci of the initial fall. I got in at 1751 with the initial target around 1730. However, when I saw the pin bar in the 4 hour (as in the chart) I too profit around 1742 only for th
The markets have been very difficult to trade of late... there seem to be many fake signals so it's important to only trade the markets which are showing the most clean looking signals. Anyway, something which looks interesting is Silver. The market has been in a downtrend for a while now but looking at the daily charts, we can see that it's now forming higher lows which is reminiscent of an uptrend... there were no higher highs however but there was a resistance area but this broke last
