Gold Short but first a small pullback ( great opportunity )
Last week we closed below a resistance area (1873 - see fibonacci from the daily )
Now I expect a retest but it may not go all the way up to 1873 - hence we can open a small position
with a wider SL ( 1875). We may touch the 100 EMA ( around 1873.50 ) on the 1H chart)
The direction is downtrend, and we expect a retest of the recent lows of 1855 area,
but being conservative the TP is set at 1856 although it may break it and continue lower
to 1825 area ( maybe end of this week 27/11)
As always, the risk management is what makes you money as nobody knows where it may go.
Now I expect a retest but it may not go all the way up to 1873 - hence we can open a small position
with a wider SL ( 1875). We may touch the 100 EMA ( around 1873.50 ) on the 1H chart)
The direction is downtrend, and we expect a retest of the recent lows of 1855 area,
but being conservative the TP is set at 1856 although it may break it and continue lower
to 1825 area ( maybe end of this week 27/11)
As always, the risk management is what makes you money as nobody knows where it may go.