YourLazyTrader

Gold in resistance zone, time for a sell?1000 Pips potential!

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Hello traders, XAU/USD has pulled back after hitting the resistance zone.
At the moment, Gold is around 2065. Looking at the daily chart, I believe
there is room for further decline in XAU/USD.

I am looking for a sell entry in Gold@2072-2085 with Stop loss above the resistance
and TP at 1982
. If this takes place, this trade can generate over 1000 pips
in profit.

If price breaks above the resistance at 2090, this set-up would be invalid.

Comment:
Gold has dropped 70 pips since I made this post
Comment:
Big drop, more than 200 Pips now
Comment:
Gold is below the resistance now, if this stays below it, expect more fall

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