Gold unexpectedly moved extremely high yesterday. Is there any technical indication before it took off?

Actually, there was some technical applications. I simply ignored it yesterday as I thought other indicators were stronger.

Yesterday, I drew a line at 656 as you can see it in 21-Feb commentary (first chart). In fact, that line was a strong support line. The fall on 20-Feb was a retest of support level. Successful retest made the market to move higher.

The most challenging work in T.A is identifying more important indications and eliminating unimportant ones as there are many possiblilities from different point views.

Good Luck!

Thanks for listening!

Gold Trader

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