YM.Chong
Short

The reasons why I short gold?

FX:XAUUSD   Gold Spot / U.S. Dollar
262 2 2
After 1225 have been broken and now we switch to observed the psychology support level 1200. Once this psychology level is broken, we look forward the gold             price to 1190 and 1182.

Why short gold? :
1. MACD showed a potential 'death cross'. (a bearish signal which might lead the gold             price lower)
2. RSI still showed bearish while its not yet reach oversold condition.

My Short-Term Strategies:
Short gold             if 1200 broken & take profit at 1190 or 1182 with a stop loss at 1216.

Upcoming data which may affect gold             price:
1. Non Farm Payroll**
2. Unemployment Claim
3. Trade Balance

**Focus the latest news for Middle East geopolitical problem.
Your idea is to take 10$ per ounce as profit, or to loose 16$ per ounce with the stop loss? Nice.
Reply
YM.Chong Gazirovkinc7
Gazirovkinc7, thank for your comment. I think the gold price won't reach 1216 for the moment.
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