I took also a short on Gold based on this PB on the 4hr tf, 3rd trade of 2011.
Took it based on:
- Nice PB
- Divergence
- 61.8 of previous down move
- Rejection of a nice PPZ/Flip area confluence with FIB
- 365 ema above
Took half at 1350, SL moved to BE.
Let see if 1350 acts as resistance now
Os.
Trade Smart