Trader_97

GOLD BIG MOVE AHEAD.

FX:XAUUSD   Gold Spot / U.S. Dollar
177 1 4
Gold once more is testing the T.L support from 16th December 2015.The 1298-1318 is significant area,with FIB level @ 1298 . The short term T.L resistance from July 10th remains intact.Currently Gold             is trading below the 20 day SMA and with NFP just a week away. We are bound to see a major shift in direction on Gold             .Lets suppose it breaches and closes below the T.L support from Last year Gold             will be considered bearish again and we will look to short lower highs and if the bull run is to continue then I expect to see a move back higher and breakout of the T.L resistance from July for a retest of 1366-1374 , once 1374 clears out we can expect to see 1400's perhaps.Right now Gold             is definitely something worth keeping an eye on !
Comment: DAILY OUTLOOK : Gold could continue to decline



H4 OUTLOOK : Strongly bearish on H4 as well

Comment: SHORT TERM STRUCTURE AND SETUP :



LOW RISK , HIGH REWARD :

! BIG PICTURE !

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