Gold Spot / U.S. Dollar

Short

GOLD:Bears look very much in control

Updated

The bearish activity seen today definitely opens up some potential bearish continuation.

Trade closed: target reached

I think thats enough gold trading for now. Ill be waiting on consolidation before I go short again. I think we have quite a lot of downside to go

Note

I think we get a reversal at $1208. Might consider going long at that price

Note

I have stops at $1200.00 and Take profit at $1240 (which I will adjust once I see some bullish activity)

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