XAU/USD
We'll most likely be seeing a bearish push after that drive up into a new all time high with gold. $1750 seems to be key for entry as it makes sense psychologically, lines up nicely with a monthly 78.6 fibo retrace and a monthly demand zone still needing to be filled. Also (this is unlikely, but as gold just went parabolic you never know) I have the 1675 region marked up as well. I will be looking to enter $1750 upon an aggressive move downwards and will only be risking 1% on the trade. If the trade is stopped, out I will wait for price to begin to show signals of rejection and enter again risking only 1%. As gold has breached new highs, I will be holding this position for as long as possible. There is a potential to make 32% or more on this trade. I will keep updating as price action matures.
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