On the Gold chart, we can see that the instrument is testing the strong confluence of the long-term support 1245-1250 zone. This zone needs to hold for the upside reversal. A daily break below this zone could lead to a further downside extension.
Note: look for the long/short trade entries on a bounce or a break below this zone.
Through time we have developed a very respectable trading strategy which defines Entry, Stop Loss and Take Profit levels with high accuracy and allows you to make position Risk Free. We are publishing 5-10 trade alerts per week via real-time Private twitter feed!
