harryexe
Short

Shorting gold on 61.8% fib retracement

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
179 0 2
With NFP results tomorrow and a much better than expected ADP employment change results on Wednesday, I expect further fall in gold             prices. A good entry point will be at 1182, a 61.8% rib retracement with confluence to past support structure. A safe stop loss is above 1197. Target is at 1152 at 141.4% extension. I see gold             going all the way to 1120+ but 1152 will be a stop for taking profits.
Comment: 1160 proves to be a hard support to break. Trade still in play
Trade closed manually: I believe gold has hit it's bottom and to prevent more losses, trade is closed with partial profits
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