With the current bearish climate in stocks, and Trump pressing for a weaker dollar/lower rates, and also given previous price/action, there is an extremely strong chance Gold will make the 50% fib ($1262) and probably the 61.8% ($1286). You can also see the Jun/Jul 2018 drop through this range was fairly smooth, so I don't expect much resistance. However, it's famously choppy, so my entry is the 38.2% point, 1238.50 (today's Fed might do that). The plan is to take half off at 50% and set the stop on the remainder to breakeven.
Trade active:
Well we reached the 50% point, bu unfortunately the trade didn't pull back and fill. Will not cancel it yet.
Trade closed: target reached:
Target reached (if it had filled in the first place)
David Atherton
