$GOLD Short Opportunity.

FX:XAUUSD   Gold Spot / U.S. Dollar
Im looking to short gold             below the 1178 support level . This will be an attempt to catch price action fall to the 61.8% Fibonacci Retracement level which is at 1164.70. A failure of this Fibonacci Support level to hold will see a drop lower to the 76.4% Fibonacci support level of 1157.83.

My stop loss will be placed above 1196.

We are currently stuck in a range of 1182.68 and 1193.79. We need to break out of this range and I want to catch a ride to the downside.

Have fun and enjoy.

Related Ideas

Gold still ranging within the 1182.68 and 1193.79. Still waiting for that break lower, be patient.
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