VladimirGas
Long

Gold breaking up for a correction

FX:XAUUSD   Gold / U.S. Dollar
78 2 3
After over a week of selling we see a consolidation with a small triangle at the break of a downtrend-line. If the break happens we can probably see a corrective move to some resistance. In my opinion it could be f.e. 1259.5
The price is shifting towards the trend line. It seems that the breakout to the downside from the triangle is more probable than to the upside. Anyway both ways are valid as long as the breakout happens.
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VladimirGas VladimirGas
The breakout was to the downside. Entered short at 1245.5, SL at 1246.7. TP not defined. I plan to move SL to BE if it falls a bit and then just gamble with a no-risk position on tomorrow's NFP.
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