Yesterday, I identified a region that I was looking to sell gold at. Unfortunately we never really moved that far up and for the most part, we were in a pretty tight trading range throughout the session.

The USD has been dictating how gold has been trading recently and that has been to the downside. I’m still looking for short opportunities today and in truth, I still like my plan of yesterday.

Trading Plan

If we can rally back to the 1288-1290 area then I still think that is the best opportunity to short at the moment. We have some resistance a little closer but that was put in yesterday and I don’t think it will hold up as well.

As it stands we have an open forex signal in Gold which is doing nicely, so keep an eye on the forex signals page for any new developments.

Gold – 240 min Chart.