Gold

im long on gold with stop below hammer.
Ive gone long due to the price moving halfway down the hammer and its also where the trend line is.
Good risk to reward doing it this way.



dyor

gold played out nicely today

Remo

Can we 123 low this on the 4 hourly?

clip2net.com/s/2GHhC



Cheers RMc

Yep..
It's good for an early entry.
But the main one comes on the daily chart.
And above the top of the hammer can be classed as a 123 low breakout.
That will be similar to the 4 hourly level.

remo wrote: Yep..
It's good for an early entry.
But the main one comes on the daily chart.
And above the top of the hammer can be classed as a 123 low breakout.
That will be similar to the 4 hourly level.

The top of this hammer/pin bar seems to be acting as resistance for the moment. This coincides with the days close before the pin bar.

If we compare to silver (as I pointed out on the silver thread), the silver pin bar broke and finished into the previous candle. Therefore the resistance of the previous days candle was not there.

Entry half way down the price bar would not have been possible. But there would have been a trade to take above the break of the pin bar as with the 123low scenario currently in play with gold.

Regards RMc

Hammer an resistance broke 1664/1666
Possible buy on any retest if not already in.

Silver also flying, this has been pushing and waiting for gold

RMc