Gold Has A Tough Fight Ahead

4-hour chart of gold below.

Gold needs time to form a bottom. Even if you are bullish (and probably already long) you need to be prepared for at least a fight at 1400-1410. If 1400 zone fails to defend gold from dropping further, there is nothing in between there down to the flush low at the bottom.

It is not just how accurate your analysis is that makes you profitable, it is how you manage the trades when they gone wrong that keeps you out of trouble. Always trade with a plan.

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