Gold fell 436 points yesterday. If you traded according to my plan yesterday and waiting for the break and then sold the pullback – albeit brief and quick – then well done. Below is a technical overview for your consideration.

Note:
a. Please read Kate’s post on Forex Major Currencies Outlook everyday so you are up to date with the latest news. You can follow Kate here
b. Please be aware of risk events for the day by using the Forex.Today calendar
c. Watch Wayne’s webinar daily at 13:30 SAST or catch the recording on the Forex.Today Youtube Channel

Gold Daily

Broke monthly Bear target yesterday. Currently at support and 61.8% fib.

Gold H4

Take note of the 21, 55 and 200. Currently below WS3. Pay careful attention to price action at the 5 EMA.

Gold H1

Pay attention to price action at the 21 and 55. I have highlighted the fib zone of yesterday's move.

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