Gold started Mondays early session with some bullishness. We had two trade ideas in mind this morning, first we were looking for this to go up towards the highs of Friday and then we wanted to short it. The second idea was to wait for this to form support below and then long the market for the higher resistance levels.
It looks like we're coming down towards the support levels so we're going to test a small long trade around the illustrated area. If this goes up first this idea is void as we will again be looking to short the market from the resistance levels.
Always use a sensible lot size and have a risk strategy in place.