YM.Chong
Short

The reasons why I short gold? (Part 2)

FX:XAUUSD   Gold Spot / U.S. Dollar
67 0 0
After 1182 have been broken and now we look forward the gold             price to 1155. 1155 is the support level to be observed, once this level is broken, it could lead the price to 1135.

Why short gold? :
1. MACD formed a bearish signal which might lead the gold             price lower.
2. RSI showed bearish while oversold condition to be observed carefully.

My Short-Term Strategies:
Short gold             at 1173 & take profit at 1155 with place a stop loss at 1183.

Upcoming data which may affect gold             price:
1. Non Farm Payroll**
2. Unemployment Claim
3. Trade Balance

Happy trading and good luck traders :)
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