This week Gold brought many pips with its bearish move as discussed earlier this week. Regardless whether you joined with the momentum or on the correction you should be collecting profits as i’m writing because the pair just reached the important 1180 support zone bringing a nice junk of profits with over 170 pips . Remember that we are following the commodity closely as this might turn into a long term trade depending on the price action. This current level is important to be broken. Then we can expect to see the price falling further down near the 1160 zone.

Here is a quick re-cap of this trade in pictures:

So once again, trail your Stop Loss to break even and let this one run. Have a great weekend!

Yours,
Vladimir