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 – Breakout Formation Leads to New Yearly Highs | Mar 3
Gold – Clears Breakout Structure, 1300 Next Major Target (4hr chart)
As we talked about in our weekly market commentary, we discussed our bullish bias and intimated a breakout above 1250 was likely. Today Gold did just that rocketing higher on the day now up about $14 above the 1250 level.
Notice the pre-breakout formation which our course members would be familiar with.
Although I’m bullish on a ST and MT basis, I’ll be looking for pullbacks to get long as I’m expecting some profit taking to end the week. As long as we stay above 1225 on a daily closing basis, then I’m expecting higher prices and a potential challenge on 1300.
Want More? My private members get all my trade ideas & market commentary 4x per week. Click here to become a member.