Gold is in a down trend.
Chart below:
Price has pulled back to the 61.8% Fibonacci level and then broken down through trend line support.
Chart below:
I am looking for a short position as detailed below.
Levels and chart below:
1st Entry: 1325.00
2nd Entry: 1326.00
Averaged entry: 1325.50
Stop Loss: 1331.00
Target: 1297.50
I will update again should the position be opened.
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