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Gold Spot / U.S. Dollar

The brexit reversal

By mytrade1602
Updated
The brexit reversal will occur this and next month. Fed rate hike is on the table
Comment
There might be re-bounce from 1265 area.
Trade active
Continue to short at 1270
Trade active
2H chart is a ABCD pattern, target 1226
Comment
Take the profit at 1228
Trade active
1276 is the key, might test here. Watch the price action around 1272, 1276
Trade active
Look closely at the chart, seems that 1265 will be the position to short, it will go to 1244.
Comment
Consider the two big wicks around 1251, better range trading between 1252-1265. Not sure if London or US will bring down the gold today.
Comment
If price closes above 1260(above the middle line) in 4H, it might test 1270~1272
Comment
Continue to short around 1260, when U.S. Opens, gold will go down to test previous low 1242.
Trade closed: target reached
mytrade1602

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