GOLD - The Big Short

XAUUSD

If the hourly trend line is broken to the downside, then there will be a short opportunity

Weekly RSI overbought
Key resistance that has held since July 2014 @ 1350
Possible there will be an exhaustion push to around 1340-1350 off the trend line.
TP 1 - 1320
TP2 - 1315

However, a break of 1400 will mean an upside target of 1550

Trade geschlossen: Ziel wurde erreicht:

Setup has played out to the absolute T

Both TP's hit and more...

Gold should now melt over the coming weeks.