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Gold has bounced back from the deep hole between 3650 and 3900. It looks like a shakeout, but if it can’t hold this level, it’s a false breakout. The lessons from getting trapped at the top twice are still fresh. For this to be a real breakout, it first has to clear the previous high. If you’ve been stopped out so many times that you’re afraid to set a stop-loss, think it over—what about you?


#Gold
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GLDXGLDX-0.40%
PAXGPAXG+0.37%
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Comment 8
VolumeHunter
It only counts if it breaks above the previous high on increased volume; this rebound is happening on lower volume now
DeathCrossBetrayer
When it breaks above the previous high, are you planning to add to your position in the opposite direction?
RiskScale
I haven't calculated the probability of breaking above the previous high, but is a sample of two cases of getting trapped at the top enough to support this hypothesis
ColdWalletNightwatch
Still watching—do we have any data on liquidity buildup around the previous high resistance
GasOracle
If gas suddenly spikes here, can your stop-loss order execute at your price?
AirdropCourier
Gold? …Got it
MinerLegacy
Even mining rig cooling is more stable than this volatility
Gas Guardian
What exactly do you mean by “can’t hold”—failing to close above on the daily chart, or a false breakout on the hourly chart? Have you calculated the pullback size