Chart Pattern Analysis November 13th: 13.1% Gain + 5.1% Gain on GOLD Trade

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Gold successful pullback after double bottom

I wish to start by showing you the Gold trade we recommended a few days ago has reached its target and got the traders 5.1% Gain, and about 87.85 points profit!

I hope you guys took this trade right at the pullback and profited along with us :)

13.1% Gain on Channel Pullback

Another trade that we recommended at October 15th has produced over 13.1% gain!

We have recommended to enter a LONG trade after a pullback to the resistance line of a Channel pattern, and price has indeed risen after touching this line, and now is up 13.1%

Again, I hope you entered this trade as well and captured those profits. These chart patterns – both Double Bottom and Channel pullback – are highly reliable and those kinds of trade are profitable with very high win rate.

Touch of Resistance at GOOG stock

The price is about to touch the strong resistance level of 630.00 in the GOOG stock. This level has proven to be very strong as price stopped on this level for 5 times.

We will enter short when price hits this level and begins to reverse, and will take profits when price hits the support trend line. This is a counter-trend trade but this level is strong so it is most likely to hold price for a while.

In case price breaks through this level we will enter a long trade, and in case it pulls back after the breakout we will enter another long trade with very high profit target = at least 832.00

Target was measured using the measure rule and it is as big as the size of the pattern.

Triangle Continuation

We can also see a classic continuation chart pattern at the TUI AG stock, that shows that price is likely to continue the bullish movement and continue upwards.

We will not trade this pattern as its entry point is not reliable enough.

Asmmetrical Triangle at Heidlberg

We can see an Asymmetrical triangle at the Heidlberg Cement stock.

This chart pattern is likely to signal a bearish movement, so we will enter a short trade if price breaks the support level downwards, and will add up to the position in case price pulls back to this level after the breakout.

The profit target is 25.65 = about 5 points.

 

I wish you all a great week and profitable trading.

Steve


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