wakethesheep

GOLD STILL FALLING

Short
FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Depending on market open, we could see a gap to the upside to help gain a better entry. Im confident with recent price action for us to continue lower, as well as global macroeconomics to keep pulling us down. Wether we fall from hereat 1500 or peak at 1560 is not clear, but with that being said, if you scale in you short positions every 200 pips, you can increase the 1.3 R:R to something closer to 3 R:R. 200 pips may sounds like a lot, but with the recent volatility , we have been seeing daily moves of upwards of 800 pips, so be careful with your leverage. any closure above 1565-1570 is a total change in short-medium term trend

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