After making an inverted head and shoulders pattern as charted, Gold has re-bounced to the resistance area at 1333. However, a double bottom was formed at the resistance area 1333. Gold has retreated from that area and touched support at 1322. A retest of the recent low at 1310 can happen. Here is a small trade plan. I wanna keep it light and tight.
- Sell limit @1330
- Stop loss @1334/1335
- Take profit 1st level @1320
- Take profit 2nd level @1315/1310
- Sell limit @1330
- Stop loss @1334/1335
- Take profit 1st level @1320
- Take profit 2nd level @1315/1310
