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
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.