Fear seems to be in the air the past couple of weeks and gold has been responding; I believe this will be short lived and I am looking at the Oct/Nov 2016 Supply/Demand exchange level for a potential reversal.
If prices find resistance at the 1238-1258 zone then I'll expect prices to retest the 1185 support level in the coming weeks and with a continuing strong DX, for gold to retest the 1100 level in the coming months.
Short entry: 1238-1258
Stop Loss: 1271
TP1: 1185
TP2: 1100
Good trading all!
If prices find resistance at the 1238-1258 zone then I'll expect prices to retest the 1185 support level in the coming weeks and with a continuing strong DX, for gold to retest the 1100 level in the coming months.
Short entry: 1238-1258
Stop Loss: 1271
TP1: 1185
TP2: 1100
Good trading all!
Trade closed: stop reached