Gold for sale
Sell gold with entry at 1210.
Reasons
1. Short term moving averages crossed to downside.
2. Price has fallen out of the recent uptrending channel.
3. Break of significant horizontal support @ 1219.
3. Heikin Ashi close beneath the moving averages.
Stop @ 1230 ( above 14 EMA).
Target @ 1153 ( .786 fib retracement of recent swing ) .
Risk Reward = 2.5 +
Reasons
1. Short term moving averages crossed to downside.
2. Price has fallen out of the recent uptrending channel.
3. Break of significant horizontal support @ 1219.
3. Heikin Ashi close beneath the moving averages.
Stop @ 1230 ( above 14 EMA).
Target @ 1153 ( .786 fib retracement of recent swing ) .
Risk Reward = 2.5 +
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