In January 14th this year, I was looking to buy the gold when gold started to test major support of 1072.
Since then , gold had a $150 move to the upside. This bull rally lasted nearly 2 months. Last week gold was trading near the $1288 resistance and we saw the gold finally show some reluctance to move above the said resistance.?Price has since drop and is currently trading near the $1216 support area. During the price drop, we shorted the Gold and made a $10 dollars move profit or in terms of pips would be a 1000 pip move
If the current bear run proves to be strong, the best place for me to hunt buys would be the $1175 area. In the chart, the area is marked with a green box. Will date when prices near the said area.