Option Investor
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Gold has an obvious resistance at 900 and when it made that triple top April 13th, 14th and 15th I thought it would be a good time to take a short position. If you take a trade against the trend, even though that trend was a short 5 day rally, it is called fading and since I am a momentum trader I decided to wait for more confirmation. I wanted to see for sure the bears still had the upper hand and that would be a close below the April 6th support. The two subsequent days were huge drops and I was beginning to think I should have taken the fade but lo and behold the drop stopped right at the April 6th low and never did close below that support.

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