Hi traders, gold has rallied significantly this week and is looking exhausted, it is now time to take advantage during the Asian session and sell gold since it needs to retrace to a better demand zone before any more significant rallying.
Enter your short trades now, or when markets reopen with your stop set at 1902.7, this is high enough above the daily high incase market makers push price above the high of day to grab liquidity before reversing the price.
For your targets I would assume 1893 to be reached followed be 1889. Take most of your profit here then leave a risk free runner at the 1885 zone which I assume to be reached during the London session.
There is great risk reward here with 4:1 available, I will be taking this trade
(Use proper risk management, this is not financial advice)
Enter your short trades now, or when markets reopen with your stop set at 1902.7, this is high enough above the daily high incase market makers push price above the high of day to grab liquidity before reversing the price.
For your targets I would assume 1893 to be reached followed be 1889. Take most of your profit here then leave a risk free runner at the 1885 zone which I assume to be reached during the London session.
There is great risk reward here with 4:1 available, I will be taking this trade
(Use proper risk management, this is not financial advice)