Spot gold reached within a whisker of $1365 during yesterday’s trading but then took a dive and at the time of writing is trading at $1326.
The analysis which provided a useful technical target for yesterday’s high water mark, although I believe there is still further to go after a correction, was provided in the Daily Form commentary which appeared almost exactly one year ago.
Sometimes markets are relatively easy to trade and yesterday’s FX market provided a couple of really easy opportunities.
Within minutes of peeking above $1.60 GBP/USD got a bad case of vertigo.
EUR/USD also found it too stressful to stay for very long above $1.40.
Patterson Energy (PTEN) registered in today’s scanning routines as exhibiting the following pattern description "Range expansion on increasing volume following an inside session near a multi-period high."
Dryships (DRYS) has a bullish looking flag formation.
SNDK looks vulnerable based on the money flow and volume characteristics.
Clive Corcoran is the publisher of TradeWithForm.com, which provides daily analysis and commentary on the US stock market.
Copyright 2024 Tiger Shark Publishing LLC . All rights reserved.
It should not be assumed that the methods, techniques, or indicators presented on these websites will be profitable or that they will not result in losses. Past results are not necessarily indicative of future results. Examples presented on these websites are for educational purposes only. These set-ups are not solicitations of any order to buy or sell. The authors, Tiger Shark Publishing LLC, and all affiliates assume no responsibility for your trading results. There is a high degree of risk in trading.
Free Festival of Traders Videos
