rizmalik

Keep short positions with small hedged positions.

Short
FX:XAUUSD   Gold Spot / U.S. Dollar
As we all know it might be all fundamentals on monday morning as Fed chairman wanted to speak over the weekend. but we still think gold is heading towards testing its lower band of $1250 (overall long trend) it seems all simple but it might take a week or two to reach my pending buy orders near $1255-$1250. currently we are looking at Gold reaching on $1265 very soon as it is below the resistance level and it is a lot easier for it to reach 1265. However i am also hedging my current long term positions just in case Gold retest $1290 and I do not want to miss that oppertunity.

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