Preparing for plunging!
The trading of gold has been quite stagnant for some period of the trading session thus either we expect to consolidate or is about to ready to rolling over.
We view the gold would be losing it’s surging through.
Thus we are looking good selling entry but our risk to reward ratio always be much widened and in case of resurgence we would show it off in order to avoid any untoward loss.
We are in view to sell the gold @1572 with the stop loss of 1578 (6$) whereas the target of us is about 1537. if you calculate the risk versus reward its about 583% reward, isn’t it a good risk-reward ratio? of course, it is but remembers Rome wasn’t built in a day the target might take weeks to achieve.
Inadvertently 1578 would pave the way towards 1591 &1604