FXBen
Short

GOLD POTENTIAL SHORT

FX:XAUUSD   Gold / U.S. Dollar
THIS SETUP WILL DEPEND VERY MUCH ON SEEING HOW THINGS SIT AFTER TOMORROWS NFP AS THERE IS NO WAY I WOULD EVER GET IN A TRADE THE DAY BEFORE SUCH AN ANNOUNCEMENT.

ON A TECHNICAL BASIS WE ARE LOOKING LIKE POSSIBLY PUSHING THROUGH THE ASCENDING TRENDLINE ALONG WITH SUPPORT AT 1170. PROVIDING WE GET A NICE CLEAN BREAK AND RETEST HERE AND THE PRICE ACTION ALIGNS WE WILL BE TAKING A SHORT WITH THE TARGET SET AT 1148 WHICH IS WHERE OUR FIB EXTENSION LEVEL SITS JUST ABOVE KEY SUPPORT AROUND 1144.

THIS IS ON THE WATCHLIST!!
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