Gold Pin formation...Any good?

hankmoody

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Hey Guys, just wondering if anybody saw the Pin formation today on the gold 60 minute chart and if it was a good formation? I've only just started to watch out for them and noticed it.....Seems like you would have made money had you gone long.....
 

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Hey Guys, just wondering if anybody saw the Pin formation today on the gold 60 minute chart and if it was a good formation? I've only just started to watch out for them and noticed it.....Seems like you would have made money had you gone long.....

Yes it was a good one. It came at significant hourly support with an inside day confluence on the daily at key weekly highs that are previous R become S.

I know a lot of people that got in that :) Most have cut 50% at $996 for around 70 ticks and moved stops to just below $991 now.
 
Hey Guys, just wondering if anybody saw the Pin formation today on the gold 60 minute chart and if it was a good formation? I've only just started to watch out for them and noticed it.....Seems like you would have made money had you gone long.....

I was up late Sunday and managed to catch the Pin Formation on the hourly going into Monday morning (EURGBP). Thanks to some people on this site and over on forex factory I have learned to trade them well enough and consistently to see my account go into into profit:)

Bless them!
 
I was up late Sunday and managed to catch the Pin Formation on the hourly going into Monday morning (EURGBP). Thanks to some people on this site and over on forex factory I have learned to trade them well enough and consistently to see my account go into into profit:)

Bless them!

Nice trade. Not one for me but still, it's working well.

I'm looking for longs around here.
 
Nice trade. Not one for me but still, it's working well.

I'm looking for longs around here.

Thank you, I actually got out at the first support point where I thought price would react which was the high of the one hour bar at 1500 on Friday - 9219. Normally I take half profit at these points as there is a high probability price reaching it and move my stop to b.e. As I was not awake to close half the position at 'Market' (you can't use a limit order with IG to close part of an open position) I put in an order to close the full position.
I notice this morning price has bounce off 9081 which was a bar top on 22nd Sept at 0900, anyway watching to see how price reacts.

All the best T.D
 
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