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Short

SHORT XAU/USD (GOLD) DOWN TO 1208

FX:XAUUSD   Gold/U.S. Dollar
1280 0 22
XAUUSD             SEEMS TO BE A NICE SHORT OPPORTUNITY AFTER LAST FRIDAYS BEARISH ENGULFING
FORMATION ALONGSIDE SLIGHT BEARISH DIVERGENCE WITH A REJECTION FROM THE 1280 RESISTANCE.

THERE IS A POTENTIAL FOR GOLD             TO HAVE MADE A LOWER HIGH ON THE WEEKLY AS LONG AS THE METAL
STAYS FIRMLY BELOW 1280-1290.

I DON'T WANT TO GET TOO CAUGHT UP IN THE BULLISH GOLD             RUSH JUST YET AS I STILL SEE FURTHER DOWNSIDE BEYOND
$1080 PER OZ BEFORE THE REAL BUYING FORCES ITS WAY THROUGH!

ANYWAY.. NICE 1:2 RISK REWARD POTENTIAL HERE.

TRADE SAFE AND HAVE A PROSPEROUS WEEK AHEAD.
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