forexoholic
Short

Gold correction

FX:XAUUSD   Gold / U.S. Dollar
vip             resistance on Gold             as well as 78.6 retracement of the last move down. Expecting a correction.There will be good buying opportunities coming up.
its a low risk trade with sl of $20 and potential for a move of over $100
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very nice correction so far, back to the support around 1200, break below 1190 would mean it wants to fall even lower but I believe it is a retest previously broken resistance which is a support now and it should hold and move higher from here as marked on the chart
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