ImoneyCorp

GOLD SETUP - IT COULD GO EITHER WAY

TVC:GOLD   GOLD (US$/OZ)
Gold             is on a trend downwards in other words bearish but it has a lot of room upwards as well to mean bullish . With that said, I have drafted how I see it going as you can follow on the chart above.
My believe is it will continue with the trend downwards if it respects the resistance lines. If it breaks them then we go bullish . If it respects them then we continue bearish and we have a lot of room downwards as well.
Remember to trade with good risk management and respect the market with realistic expectations.
As I always say, your management of your expectations may as well be the only key you need to find your success in this industry.
Good luck.
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