Gold - Lovely Pin formed - SHORT

I'm short on gold until the 50% fib levels where there is major support from 1295 - 1305, where I will either be looking to go long, or continue on down towards 1285.

We currently have a nice long tail on the pin bar at a major level of confluence, the RSI and volume is declining and we have a huge amount of strength in both US indicies and although a slight pullback on the DXY, it's bullish on the US dollar.

Stop loss above the pin after seeing what the market is doing.

Happy hunting

Christopher

Trade active

Comment:

Trade is progressing slowly, but perfectly

Trade active:

I'm still active, but I've covered my profits with a stop loss and taken some profit, looking to move further down to 1283.

Trade closed: target reached

Comment:

You can continue to be short on Gold, I've added an update here.