And gold moved ... a lot

I haven't post last week as I was enjoying a well deserved holiday with the family in sunny Turkey. However, I did have a trade on on Gold while I was sipping margharita's in the pool. And boy was I happy with the way my trade played out. Half way during my holiday I almost made enough to pay for our stay in the 5 star all inclusive hotel. Yahoooo!!!! And than ... boom. Heavy profit taking and risk appetite picked up. I should have gotten out after a dark cloud cover candle pattern formed at 23th of august, but I already put a stop at breakeven and after that I wasn't really paying attention to the charts as my family deserved my attention. So, no free holiday this year as my stop was hit and then some what.
Than on the 25th I got a second change. I got in on a pin bar bounce of the 20 ema and a 38% fib retracement. That's a nice confluence of signals. See the chart below.


The triangles are my entries and the dot is my stop getting hit. Also notice that instead of the 20 ema I plotted the Ichimoku kinko hyo indicator on the chart. The kijun sen (26 period moving average) gives similar values while taking in to account volatility. I am still backtesting the use of this indicator. The way it looks now I will be switching to this indicator soon and use it instead of the 8 and 20 ema. If I got time I'll write a post on that.

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