Yes, I'm trading / looking for trades while on vacation. =)
Well the trade is simple as you'll see, you can expect gold to retrace back up to broken 1305 Support based on the daily close.
Technical's: Price is in a Multi Year descending channel, consolidated and broke down at the upper band of the bearish channel. Also, this years bullish ascending trend has been broken as well.
The Trade:
Wait for gold to retrace to broken Support at 1305 for a short entry with the stop order set around 1330 - 1347. With the profit target set at 1227.30 area.
Good hunting.
Well the trade is simple as you'll see, you can expect gold to retrace back up to broken 1305 Support based on the daily close.
Technical's: Price is in a Multi Year descending channel, consolidated and broke down at the upper band of the bearish channel. Also, this years bullish ascending trend has been broken as well.
The Trade:
Wait for gold to retrace to broken Support at 1305 for a short entry with the stop order set around 1330 - 1347. With the profit target set at 1227.30 area.
Good hunting.
