Channel and pattern are clear. Double resistance on daily and both on horizontal resistance & trend line support at 1810$.
USD dollar index looks bullish as it just hit support and next resistance is at 94$, thus we short Gold now with a heavy position with 10$ spread until target line hits 1810$.
POSITION IS A SHORT.
CFD CONTRACT 1 LOT = 100 OUNCES.
ENTRY RATE 1,892$.
POSITION VOLUME 100 CONTRACTS.
POSITION VALUE 18,920,000$
MARGIN REQUIREMENTS 1% FROM POSITION VALUE = 18,920$
FREE MARGIN 2% TO STOP OUT = 37,840$
T.P first target at 1,882$ and second target at 1,810$.
EST PROFIT for 10,000 OUNCES MULTIPLE 10$ = 100,000$ PROFIT