XAU / USD NY Session. Short. R:R - 3:1
Looking to sell new daily highs today so set your sell limit for just above the previous high or above 1796 for a nice short once the NY volume comes in to a better demand area. There should be a slight liquidity grab on the buy side as the last trend line gets touched, watch this to see how gold reacts and manually enter your short if you haven't already set your buy limit. Gold is ranging in between the two purple lines and since it has failed to make more upside, more liquidity will be needed from lower demand areas before golds last rally up to the 1830 area. Sell as shown on the chart and use risk management, the fundamental reasons for gold to selloff are that some profit taking should take place as the bulls begin to let the bears drive price down to better demand zones.
GreyTrades
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