given the strength of the most recent sell off in gold, i would like to get in on a 38.2 - 50% retracement right in the 1287 range.
I realize this could be a consolidation trap but judging by the weakening in price i would be ok with taking a chance on a breakdown of market structure here.
Rsi crossed below the stationary 50, enter on the pullback to the S50... this generall tends to confluence well with trend lines and other pullback indicators.
TP 1: 1281
TP 2: 1272-1267.9
I realize this could be a consolidation trap but judging by the weakening in price i would be ok with taking a chance on a breakdown of market structure here.
Rsi crossed below the stationary 50, enter on the pullback to the S50... this generall tends to confluence well with trend lines and other pullback indicators.
TP 1: 1281
TP 2: 1272-1267.9