A nice swing trade popped up on Gold today, which the Battle Station made sure I drew attention too.
The Battle Station is my candlestick recognition tool, among other things – and the alert it sent me is on the chart above.
This charts clearly shows a buyers market – the trend is clearly up, printing higher highs and higher lows. In a bullish trend we’re looking for the market to move into higher lows for buying opportunities.
The price recently retraced back into the mean value, and at the same time re-testing a previous swing high – the perfect cocktail for a trend trade opportunity.
The bullish rejection candle that was printed at the end of day last session seals the deal. A nice, clear, bullish body rejection candle – communicating to us price action traders strength was found at this point on the chart.
I am hoping to grab a retracement entry, but I fear this one will take off without me as the setup looks so good – I can see this one exploding higher when the US session opens.
You never know though, so we will be patient and wait to see if the retracement entry is offered this week.
Best of luck on the charts.
Elhadi
Firstly i would like to thank you so much for your nice way of making the charts understandable. i surely want to take courses from you on price action and on daily chart which before you i can`t even look at it
i am really enjoying your videos so much
thank you thank you thank you big big big time