How bad is Gold Price today and how far can it go?

Gold Price Today

Gold is breaching below a very important level at 1245

Gold is breaching below a very important level at 1245.

This level was last week low and an equidistant channel low.

Open trades on Gold

profit in gold price

Since it is a deep downtrend, I was interested for TAG2 Robot to open a trade.

What I did with TAG2 Robot? 

There was a lower timeframe signal (see label 0,1,2). However trade was missed due to filters. 

This is a good opportunity as TAG2 Robot had everything calculated. So I entered this trade manually by shorting at average price 1249. 

What to watch out for Gold Price in future

Gold price in future

Autobox shows that Gold price is still heading down. Remember to get your free copy of Autobox in MT4

I will be looking at each retracement for adding more positions. Keep a look out for The Alien Room G+ post on where and how I add more positions. 

For now, resistance is firm at 1245 to 1250. 

I’m setting my view at 1120 which is the bottom of equidistance channel. 

Not forgetting my good helper, TAG2 Robot to monitor and open more sell trades for me! There’s an article which you might like – how I felt like an octopus with TAG2 Robot

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Binni Ong
Binni Ong

Forex Data Scientist & Systems Expert, entreprenuer and a mother of two wonderful children. Binni Ong just loves patterns/numbers and developed many mathematical-base automated trading systems. She founded TerraSeeds Market Technician Pte Ltd andonlineforexmaster.com. She was also invited by exchanges, brokerages and banks to speak in many investment seminars and panels. She has a Masters degree from NTU, Singapore.   Follow Binni in Twitter | Why Students like Master Forex Course | Trade Review on Tflow® Trades & Trade Performances| Find me on Google+

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