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
October 19, 2012
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I also put in a short trade on the CHFJPY with a trailing 50 point stop loss. The market hit a double bottom at 100.18 and has bounced up to hit the 61.8% Fibonacci level. The stochastics have also crossed towards the downside. All looks good you may say.. however, I am not 100% confident of this trade for the following reasons:
The stochastics crossed at the 60 level. A clean cross should happen either above 80 and move downwards or below 20 and move upwards
Very strong upwards momentum
June 2, 2008
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