In this trade idea what I will be looking for is I will be looking for gold shorts.
What we saw last week was a very strong bullish rally to the upside and what I am anticipating is for gold to respect the resistance created to @1832. Now that that we have seen a dump off to the down side I would like to see gold pull back to the old level of resistance as a retest and then continue to the down side. What we can also see is we are in a very strong bearish trend and should respect the trend and continue to the down side.
What we saw last week was a very strong bullish rally to the upside and what I am anticipating is for gold to respect the resistance created to @1832. Now that that we have seen a dump off to the down side I would like to see gold pull back to the old level of resistance as a retest and then continue to the down side. What we can also see is we are in a very strong bearish trend and should respect the trend and continue to the down side.