Gold Pin Bar + False Break at Big Figure | Mar 26th

5 minute intra-day price action chart gold

Spot Gold – Breaks Down From Corrective Move, Forms Pin Bar at Support
After consolidating in a corrective move between 1317 and 1307, the precious metal fell lower forming a large breakout bar. But after this, the PM consolidating for the next 4 hours.

This stalemate ended with a pin bar + false break below that bear flag support. You can see the 1hr pin bar in the first chart, and the false break on the 5 minute intra-day chart further below.  

1hr Gold Price Action Chart

5 Minute Intra-Day Chart

We actually traded both short and long today, catching the momentum move down, and a quick false break back up (two trades below).

Trade #1: +700 Pips Short

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