Selling Opportunity in XAU/USD - Sold @ $1792.33 Fri Dec 9, 10:27am. Stopped Out Tue, Dec 13, 22:23pm -$1060.58.

Gold rose to $1809.94/oz on Tuesday and stalled. From there, price declined to $1765.85 the same day. It has since rebounded and traded to $1795.72 at the point of writing. 

The rebound to this morning to a high at $1795.72 is just above the 61.8% retracement of $1809.94 to $1765.85. The view is we may see a continuation of the decline from $1809.94 to perhaps the $1725 level. If so, this represent a selling opportunity.

TRADE IDEA

Sold @ $1792.33 Fri Dec 9, 10:27am.

Stop $ 1820.00. Stopped Out Tue, Dec 13, 22:23pm -$1060.58.

Target @ $1730.00.