Signal_Centre

Gold - Trading in a corrective channel, sell rallies

Short
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
Gold is Bearish - We look to Sell at 1746.70

▪️ Trading within a Corrective Channel formation.
▪️ We have a 78.6% Fibonacci pullback level of 1746.28 from 1754.16 to 1717.35.
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1746.70, resulting in improved risk/reward.
▪️ Expect trading to remain mixed and volatile.

Stop: 1755
Target1: 1717.50
Target2: 1700