x12g
Long

Great Risk v Reward on Gold

FX:XAUUSD   Gold Spot / U.S. Dollar
Trade set up now on gold .
Buy - 1697
Stop - 1690 below the trend lines and today's low - If that level breaks we are heading down to 1678 area at the bottom of the trianglish wedgish pattern we've been stuck in for weeks.
Target 1 - 1717 or the top of the triangle
Target 2 - if we break out of the triangle resistance above 1717, then we may be going much higher.

Comments

Great trade so far. Taking another 30% off the table now. Stop to 1721. Holding 20% for the gold rip. Will trail a stop about 10 handles below.
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Target 1 reached
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Moving Stop to break even now.
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