I haven’t received so many requests as I did regarding the gold move. It was dramatic sure, but what I was struck by was the interest in how the movie could have been traded. I know that sounds funny but let me explain…
The gold market has been bullish and despite what is a slightly shaky 34EMA Wave, it’s been predominantly bullish with consistent green GRaB candles.
Because of the bullish Directional Bias the move lower was counter-trend and unless traders were picking tops along 1800 (I explain the importance of the layer of resistance in the video) the intraday trends were still up. But it’s the CLARITY we’re after and understanding that is/was the key to AVOIDING trouble and in this case that meant not being long.
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