Thursday, August 20, 2015

Price Action Trading The Flag Pattern On Gold Futures;

Buying the seller weakness at Flag Pattern lows allowed us to put away a HUGE 253 ticks this morning!

In today's video we see the Gold Futures pushing higher very aggressively but taking a quick break on a Flag Pattern  back down on assumed profit taking.

This gave us an opportunity to buy their weakness and ride the move right back up with an add-on for $2,530 on the trade!

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Flag Pattern setups like we had today on Gold really paint a beautiful picture of how the markets love to act. You have a huge rip higher, buyers that bought the low are going to want to take some profit off the table (the Flag Pattern) and when they start seeing it in a valuable area to buy again they pound price right back up to new highs! What a ride higher this morning on the Gold Futures!

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