Gold Price Action Trade Rips Higher – Now Up +4100 Pips & +10R | Feb 11th

Spot Gold – Testing Channel Top & Key Resistance
Our bullish price action trade that we’ve been talking about for a while which you can read about here, back at 1242 continues to rip higher, now currently up over +4100 pips and +10R. The precious metal is now testing the key resistance level and channel top that we mentioned before at 1289. If the PM can clear this and have a daily close above, then 1309 is the next likely stop.

We are holding our long with ~ +4.5R locked in and will continue to lock in more as this progresses. A 4hr or daily close below 1259 should put 1250 and 1242 under pressure. Traders not currently long can watch for corrective pullbacks and signals around 1267/70 to get in line with the current bull channel and trend.

gold live price action trade bull channel 2ndskiesforex

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Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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  • Mantas

    Amazing!
    You have nerves of steel..
    It’s damn hell inside the channel!

    Kind regards
    Mantas

    • Chris Capre

      ‘Huevos’ would be a more accurate term, as my friends use here if you catch my drift 😉
      There are other words for it, but would rather not use such in public 😮

      • Mantas

        yes, this term definitely explains my point much better here :)))

      • Chris Capre

        :-)))

  • Rui

    Apart from having “cojones” I appreciate how you wisely trail your stop loss. I often find myself out of a good trade early because of trailing it too close. Hats off Chris. Very good indeed! Cheers Rui

    • Chris Capre

      Hello Rui,

      Yeah, the key was to be patient in trailing this one. There was a lot of volatility in there, so had to keep the trail wider. If the price action was tighter, then I’d trail it closer to the upmove.

      But thanks for the positive comments.

      Kind Regards,
      Chris