{"id":439699,"date":"2026-10-08T23:00:06","date_gmt":"2026-10-08T16:00:06","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/what-you-see-is-what-you-get-i-see-patterns-in-the-gold-price-action-do-you-439699\/"},"modified":"2026-10-08T23:00:06","modified_gmt":"2026-10-08T16:00:06","slug":"what-you-see-is-what-you-get-i-see-patterns-in-the-gold-price-action-do-you","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/what-you-see-is-what-you-get-i-see-patterns-in-the-gold-price-action-do-you-439699\/","title":{"rendered":"What you see, is what you get. I see patterns in the gold price action. Do you?"},"content":{"rendered":"
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Do you believe what you see?<\/p>\n

In the video above, I look at the patterns in gold\u2019s price action and explain how recognizing those patterns can help you anticipate a trade, define your risk, and judge who has control.<\/p>\n

Last week, I discussed the importance of believing in something as a trader. For me, that includes the 100- and 200-hour moving averages. They give me consistent references for judging the bias and defining risk.<\/p>\n

You can re-watch that video here: You have to believe in something: Why I trust the 100 and 200 moving averages.<\/a><\/p>\n

Connected to believing is seeing.<\/p>\n

Children believe in Santa Claus because they see him, and the story around him reinforces that belief.<\/p>\n

In trading, I have my own version of \u201cseeing Santa Claus.\u201d It happens when a pattern emerges in the price action and my technical tools line up around it.<\/p>\n

I see something I recognize. That gives me a reason to pay attention\u2014and a level around which I can structure a trade.<\/p>\n

Gold\u2019s floor was there to see<\/p>\n

Before the break on Monday, September 28, gold had developed a floor between $4,229 and $4,237. That swing area had attracted buyers in August and again in September.<\/p>\n

The 61.8% retracement was in the same area.<\/p>\n

I could see the repeated support. I could see the retracement. Together, they gave traders a clear reference.<\/p>\n

Stay above the area, and buyers have a foundation. Break below it, and that foundation starts to give way.<\/p>\n<\/p>\n

When the September 28 news hit and gold broke below that area, the downside momentum made sense. A floor that had supported the price was broken. Buyers leaning against it had a reason to exit, and sellers had a reason to press.<\/p>\n

Read the September 28 gold selloff post here.<\/a><\/p>\n

Could you predict the headline? No.<\/p>\n

But you could identify the level beforehand and anticipate what a break might mean. That is what successful traders look to do.<\/p>\n

The old floor became a ceiling<\/p>\n

On October 2, gold corrected higher into a familiar area.<\/p>\n

The 200-hour moving average\u2014the green line on the chart\u2014the swing area, and the 61.8% retracement came together near the highs that day.<\/p>\n

The old floor was now a potential ceiling. I could see it.\u00a0<\/p>\n

Traders who recognized that combination could consider selling against the resistance, with a stop above it.<\/p>\n

If the resistance held, they had an opportunity to benefit from a rotation lower. If the price broke above it, the reason for the trade weakened, and they could exit with a defined loss.<\/p>\n

Risk a little to try to make more than a little.<\/p>\n

The resistance held, and the price moved lower.<\/p>\n

On October 6, the 200-hour moving average was tested again. I could see it.\u00a0 Once again, the price fell.<\/p>\n

The pattern was there to see.<\/p>\n

Today, the moving averages define the next decision<\/p>\n

Today, both the 100- and 200-hour moving averages are in play. I can see it.\u00a0<\/p>\n

If gold stays below them, sellers retain the near-term advantage, and another rotation lower remains in play.<\/p>\n

If the price moves above both moving averages and stays above them, the short-term bias shifts in favor of the buyers.<\/p>\n

The \u201cstays above\u201d part matters. A brief move through a level can fail. Holding above it gives buyers a stronger case.<\/p>\n

Believing in a technical level also means respecting what happens when it breaks. Your belief needs to adjust with the price action.<\/p>\n

The trading lesson<\/p>\n

The lessons are simple:<\/p>\n