Givingthelowdown
Short

Short Gold at 1255 on Upper Trend Line

FX_IDC:XAUUSD   GOLD / US DOLLAR
9 months ago
The gold             daily chart has a lovely symmetrical upper trendilne to it...Im expecting a short at 61.8% fib retracement ($1255) as todays move up was too strong to short gold             from a lower level and experience tells me that traders nearly always push the boundaries to the limits... the chart tells us we will hit this trendilne and 61.8 fib on Wednesday 8th June, do not rule out a fake bullish breakout up to1160/1165 so not a trade for a tight stop loss. This should see an end to the correction and the beginning of the next wave down to $1130 - $1170 by end of June.
9 months ago
Comment: If Price hits trendilne earlier, short from there!!!
Givingthelowdown
9 months ago
CORRECTION:- Bullish breakout to 1260/1265
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