Gold Bull $#ap - don't fight the fed......

Check out yesterdays daily candle ........ bulls lured in by CPI , but caught out by the fed.

We have a confirmed break below the 1265 S/R level. Today we will retest it , and likely price will move lower .

So a short trade is possible.

Enter - just beneath 1265.

Stop - above the 10 MAV daily @ 1269.

Target - 1. 1252 ( Pivot monthly) 2. 1242 (Fair Value) 3. 1232 ( Trendline)

Comment:

The 1259 resistance level has just been broken, tested and price is moving away. Good time to short , set stop above 1260 and aim for 1252 minimum.....:)

Trade active:

Its breaking down nicely.... keep shorts to fair value at 1242.....:)