Gold as been on a bullish trend for weeks, Price found its way to the 61.8% fibonacci zone, this is clearly a retracement for new coming highs, I expect Gold to reach new highs in the coming future(1700) but for this trade i would be looking at a 1;1 risk to reward ratio first which would be at 1685. The trend is your friend, trying to short at this level isn't safe.
Risk Warning : The risk of loss in trading Foreign Exchange (FOREX) can be substantial.
You should therefore carefully consider whether trading is suitable for you in the light of your financial condition.
Goodluck !
Risk Warning : The risk of loss in trading Foreign Exchange (FOREX) can be substantial.
You should therefore carefully consider whether trading is suitable for you in the light of your financial condition.
Goodluck !