This is another gold Kangaroo.
Last week the XAU/USD – also known as “Gold” – traded down to the 1688 level and printed a brilliant Bullish Kangaroo Tail (buy signal). If you are not quite sure what I am talking about, you can go to the Naked Trading Forum and see several of these beauties unfolding in real time.
Gold printed a daily Kangaroo Tail on the 1688 level, which is precisely where the market found resistance between October 11-17th. This was a great setup.
Traders often ask if the Naked Trading setups I use will also be useful in other markets such as stocks and commodities. The answer is “yes” – markets such as Gold and Silver often print very nice naked trading setups just like this Gold Kangaroo Tail.
