Trader_97
Long

GOLD TRADE SETUP ( SUPER RISKY )

FX:XAUUSD   Gold/U.S. Dollar
70 0 0
Though currently still trading inside of a Bearish trend Channel the support T.L from 2nd December remains intact.All this setup requires is a break and close above the 1080 area for confirmation.With FOMC statement & interest rate decision for the US DOLLAR             ahead this makes this a very risky setup but I myself feel it maybe worth trying.Technically Prices are still above the 100 day and 50 day Moving averages.Stochastics looking positive ahead of the event.

ENTRY CRITERIA :

Wait for a Close above 1080 look to buy around 1080-1082

TARGET 1 : 1100

TARGET 2 : 1112

TARGET 3 : 1126

STOP @ 1046

Keep in mind we have FOMC statement coming out along with the Interest rate decision as well as FED chair Yellens speech ahead.Which means we'll be dealing with extreme volatility !
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