Ambush - Barrick Gold Corporation (USA) (Public, NYSE:ABX)

ABX, from the WL set up a perfect ambush trade. What is an ambush? Hubert Senters of Trade the Markets, uses this setup on a regular basis with gold and futures.

Place fibs from PDL to PDH or from begininng to end of last leg. Price retraces between 50-62%. Ideally, price should not close beyond the 62% retracement level. Look for a reversal back to the base, and sell half.

POT gapped wide and printed WRB on huge volume. The second bar was bearish with no overlapping bodies and closed at base of the round $ number, so I went short as there was little or no chance of a retracement. Partial at gap support and whole $ level. Stopped out on balance. Late in the session POT head faked lower, filling the gap from Monday, and setting up a fast move (long) into the close.