Learn to Trade Forex Online
Gold has finally broken higher and in doing so broken out of the tight range it was trading in. On the 4hr chart we can see a very strong Bullish Engulfing Bar (BUEB) that smashed through resistance.
This old resistance area could now act as a new solid support area should price retrace lower. Price Action traders could look to get long at this new support should price make a large and obvious bullish price action signal.
GOLD 4HR CHART – SEP 4 2012
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