Shortgold
Of Pet Rocks & PaperweightsThis is arguably my favourite gold interpretation. Albeit, I consider Fibonacci to be pseudoscientific, so I don't weight the internal lines highly, except for the fact that they do appear to represent support and resistance to some extent.
In any case, I think there's a reasonable case for gold to resume it's trend lower.
Xauusd : Back to Back Breakout Setups !Hey Guys, We are having back to back trade setups which are breakout ones. Remember we grabbed the previous breakout in XAUUSD all the way from 1225's and another channel forming now in gold which is ready for breakout.
I'm biased towards downside breakout, but if Gold raises up don't panic bcos till 1215's nothing to worry about bulls. Check with your trading plan and calculate the risk before entering the trade setup.
Happy Trading & Happy Friday... Green Weekend On...