Gold is in a down trend.
Price has pulled back to the 61.8% Fibonacci level.
Chart below:
Price has been in a small range for the past 3 days.
However price has today broken down through the averages.
I am looking for a short position as detailed below.
Levels and Chart below:
1st Entry: 1460.00
2nd Entry: 1462.00
Averaged entry: 1461.00
Stop loss: 1470.00
Target: 1416.00
I will update again should the trade be triggered.
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