Gold Short set up

FX:XAUUSD   Gold Spot / U.S. Dollar
71 0 1
Friday's price action was another reminder that one should not trade during sensitive data release if not prepared with trade plan and ready for insane volatility . Until the first Fed rate hike becomes reality, periods of consolidation followed by sharp drops will be the norm for gold             and silver             . Now 1180 has become first line of resistance for gold             price retracement and that's where we would like to go short.
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