Waiting for Opportunity to Buy Cheap Gold with Low Risk

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Based on last week gold OANDA:XAUUSD run till today's highest peak, I'm looking to buy gold during retracement (Fibo Level between 61.8 and 71.8) with a selling target between Fibo 1.21 to 1.50.

This idea remains valid as long as the price doesn't breach the 1560 to 1565 resistance zone from 2011 data.

This set up will have more than 1.5 Risk and Reward Ratio.

Don't chase the market, wait for the price to come down between 1516 and 1509 zone before buying.

Order cancelled: This trading idea was cancelled. I'll published an updated entry point, SL and TP.

Thank you
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