FXLeaders

Washout Scalp In December Gold Futures

Short
COMEX:GCZ2018   GOLD FUTURES (DEC 2018)
At press time, December gold futures are up moderately for the session trading above the 1210.0 handle. Make no mistake, this is a critical technical level. If we see another late day sell-off in bullion, a bearish washout may develop beneath Tuesday’s low (1205.8).

Here is the trade:

1)Entry: Sell 1205.7
2)Stop Loss: 1207.1
3)Profit Target: 1204.7
4) Risk vs Reward: Sub-1/1

The goal is quick and positive price action. If there are buyers home above the 1205.0 handle, then head for the door. This trade is good for the remainder of the Wednesday session.