I am looking to buy Gold at a breakout of the falling trendline for a potential trend reversion.
Once it breaks 1307.93 high, I am looking to execute a long position. The stop will be below the low of $1280 and the target at around 1368$ or even higher.
Due to the fundamental and global risks (U.S.-China, Italy etc), we are currently facing I am pretty much sure that Gold will act as a safe heaven. So the fundamental front looks promising for a potential gold rally. I will risk around 1.5% of my capital on this one. Lets see.
Hope this helps.
Disclaimer: Trading is about going with the highest probability, nobody is 100% right and we need to protect ourself in case we are wrong. That is why we need to always use a stop-loss when trading. Trade with care. This my current view, and any view present is not a trading recommendation just personal view.