Personally, I like to trade fakeys where the false break bar is a really clear pin bar like the one Sucsessfull students have in this examplebut there are 4 different types of fakeys and I expand in more detail about this in my trading courses.
A recent study by The Human Sciences Research Council revealed that many students enrolled at South African tertiary institutions are from extremely poor homes — with a paltry combined household income of between R and R1 per month — and so land up taking on part-time jobs to try and meet both their educational and daily survival obligations, with their studies invariably being affected and them ultimately dropping out altogether.
If we zoom out on the daily chart again, we can see the technical picture for gold looks very bullish now that we are above that resistance, and until prices collapse back below that support, we can assume prices are contained higher and will continue trending higher.
So firstly, lets have a look at the zoomed out daily gold chart. Keep this field blank Registered users can save articles to their personal articles list. Ok, so if you missed that trade, the question now is, where is gold headed and how can we trade it from here?
At the close of this bullish pin bar, we took an aggressive entry at Sucsessfull students market price There are many factors that contribute to this phenomenon, with two major factors topping the list: Findings on a recent report by the Global Campaign for Education ranked the quality of South African schools at 50 out of developing economies.
It stands to reason that, without proper education, these people will then not be able to contribute positively to the future growth of the economy and — in all likelihood, they will become a liability, rather than an asset, to South Africa. One of the run-off effects of potential students not obtaining comprehensive enough information regarding their study options is that many of them are also misinformed, or uninformed, of the financial side of their study commitments.
So from here, the best potential trades will likely be to buy gold if prices pull back towards that major level Students seem to be fighting a never-ending battle in their quest for knowledge: Ok, for anybody short, the fakey pattern was a clear signal to get out of shorts and reverse to longs and for those traders not in a trade, this was a clear signal to take a long position.
On this 4th price bar, you can see prices did initially break out to the downside and for some this would have been a short signal. This pattern leads to huge moves, especially around major levels.
We can see these 4 daily price bars where a classic coiling inside bar structure this is where you see multiple daily price bars that form within the range of the previous bar.
If we zoom in closer on the daily chart, we can see a pin bar reversal sell signal formed exactly at that resistance, but again, there was no follow through lower, we just went sideways.
In fact, even those students who are aware of bursary providers are unaware of the processes and requirements involved in order to satisfy the criteria for a bursary, and many eligible students slip through the administrative cracks and miss out on starting or completing their studies.
However, as you can see, the shorts had it wrong and prices quickly reversed off the lows and formed a large bullish pin bar reversal with a long tail. Says Zivana Jenkinson, general marketing manager of Eduloan, a financial services provider:I was asked for a downloadable file with the G_LATLNG function by Filipe who was having trouble getting the function working.
Since I posted that, I’ve done a bit of further work to improve it. The workbook you can download caches results from G_LATLNG and G_DISTANCE queries to reduce the amount of time spent polling [ ]. Education in South Africa is in a state of crisis, with matric pass rates plummeting, tertiary institutions in turmoil and serious teaching skills shortages thick.
In this trading video lesson, I show you how I make money trading GOLD using the 'fakey price action chart pattern' and I discuss a potential trade setup I .Download