Gold has been dropped for a week, and we are still on the down trend channel now. Do not easily go long until you see a bullish sign or conformation, if you shorted long time ago, you can go ahead and close some of your positions.
2 ways for gold in my opinion:
for bulls or potential cup n handle formation: my tg is 1333-->1338-->1346, and we may get a bullish trend for there
for bears, since we are still on the down trending channel, i'd like to see 1310-->major support 1306-->RIP
GL and happy trading, here's your potato.
Comments
Annette
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I prefer option 2 ;) Maybe with also a fast waterfall of price manipulation at the US opening the 26 or 27 as happened for Brexit and NFP, what do you think?