jackcolafx

XAUUSD bearish continuation

Short
FX:XAUUSD   Gold Spot / U.S. Dollar
While the pair broke the major 1280.00 support, with a nice long weekly bear leg, i'm definitely searching for my short position entry. I have been waiting for a few days now, for market to retest 1280.00 or maybe eaven 1285.00 around where the 38.2% lays. But truly I don't really think it should go further than 1280.00. After rejecting the resistance it should be hitting the bottom of the consolidation box, which stands at 1271.00 and eaven proceed to 1266.5, which is about 120 pip reward.
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