Hi, I'm Chris Capre, founder of 2ndSkiesForex. I'm a verified profitable trader and trading mentor. As a professional trader, I specialize in trading Price Action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18 years of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.
Gold – Suffers Greatest Losing Day in 30 Years
The selling today in Gold continued without mercy to bulls, losing over $145 since market open. The bloodbath started on Friday when someone sold 400 tonnes (over 15% of annual production), which comes out to approximately $20B (yes, Billion) in value. This tripped the stops below the critical multi-year support level at $1500, and hasn’t looked back since then.
Yesterday in my weekly market commentary, I talked about taking any pullbacks towards $1496 as an opportunity to sell. Where did price go to? $1495.75, then broke below the mentioned $1479 support, offering a breakout pullback setup. From here, it proceeded to get bloodied every which way but loose, going …... Keep reading