Forex_Trader_
Short

XAUUSD Sell Opportunity

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold has been in an uptrend since November. Price finally reached its high at 1246, before falling down and breaking through the uptrend channel's support. Price found support at 1280. After this steep move to the downside, price pulled back up to the 61.8 fib level, and then continued to fall and once again, price broke its second uptrend channel's support . Price has came back up to re-test its resistance and we should see gold fall further down. This gives us a great trade ratio of 3:1.
Immediately after posting, price dropped 420 pips. However, price then pulled back to hot break even.
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