Gold Trade Breaks Through Key Channel Top, Up +5500 Pips | Feb 13th

Spot Gold – Closed Above Key Bull Channel
Gold today has taken out a major technical barrier, closing above the large channel which dominated and contained the price action since Jan 6th. This should shift technical sentiment more bullish, not only confirming the 1178 base and double bottom, but also changing the medium term trend towards the upside.

We talked about our gold trade on Jan 31st is now up over +5500 pips, with +3300 locked in (or +7.3R). Traders currently not long can look for corrective pullbacks towards 1285/88 to get long. A daily close below 1283 will likely signal a pullback before bulls step in to push the pair higher. Upside targets are 1306/09, and 1345/53

gold bull channel price action trade 2ndskiesforex

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  • Jewell

    Really sweet trade Chris.. helps to see your update of the trade.

    • Chris Capre

      Thanks Jewell – already up another +400 pips from the writing 😮

  • BC

    Hey Chris, where was your orig stop on this trade?
    Your entry was off that massive bullish candle?

    • Chris Capre

      Hello Roy,

      Stop was ~450 pips
      Entry was on the close, on the bear candle before. My read on the PA was that the area would hold, I could have a tight stop below, and a huge upside play at least to the channel top. Which it ended up turning out to be true.

      Kind Regards,

  • ishmael

    this is the best video i have watched this year,well presented and to the point.keep up the good work and God bless u even more


    sir i want to subscribe u r daily signals plz tell me how i get it.

    • Chris Capre

      Hello Bhupinder,

      Besides the free content/signals on the site, we have daily market commentary for price action course members, which you are welcome to join.

      Kind Regards,
      Chris Capre