Loading ...Gold Backtest? Errr, maybe, very maybe, if you are an optimist bull.
The goldbug glass half full folks would see this as a back-test of the pennant breakout:
However, it is pretty much a textbook shooting star candle closing near the low, which hints that the glass may be half empty. At opening in Asia tonight, price has dropped $4, taking it just below Tuesday’s close. (That’s almost like turning the shooting star into a black candle if you will).
TA can be a nightmare! Has the breakout upmove of early 24 Feb 2016 been a fakeout?
Time will tell.
I did not trade this breakout. I wish I had day-traded it though this morning. Price at $1250 hit the top of my original blue pitchfork that I posted but the action there is really messy.
I closed m’y HMY position at 2.99 after spotting the shooting star on the HMY chart with a size able gap. I know I should await confirmation but I have other uses for the cash so took the opportunity
Maybe spend your cash before there’s a cashless society! I went to an ATM yesterday in the UK attached to a small supermarket but operated by a subcontractor. Seconds later I went into the store to do a little shopping, just a few bits. I handed in the 10 pound note (GBP) and … guess what? The store girl with her eagle eyes and UV lamp said it was a fake! So they took my cash that I just got from the cash machine that is filled from a door inside their own store! The note looked no different to the naked eye from any other £10 note, watermark, foil insert, hologram, even the fluorescent 10 with dots around it but the hologram badge did not fluoresce. Almost a perfect fake then. Maybe it was even real – but I lost it.
Why would you let her take your cash? Who the F is she? You Brits are too damn polite lol.