Follow Up Trades - FSLR and ABX

Last night we said that FSLR could go lower because it closed weak. The fibs were placed at the early pivot high and low. Price rallied back through the R-zone and carved out a shooting star ,so short as it exits the R-zone.

From the 15 min. chart we see that the initial inverse C&H turned into an inverse H&S. The H&S failed and we reached full extension of the initial pattern in early trade this morning.


I started scaling in ABX on a higher low, when I noticed that AEM, today's loss leader was reversing and moving out of its base. Added to the position after it formed a 3 pivot base. I partialed out when price ran into the downsloping 50 SMA on the 15 min. There was a C&H pattern on 15 min. but it stalled shortly out of the base because of 50 SMA.

I did same trade in my retirement account except holding for a swing. If markets roll over, gold should be the safe haven play once again.