GOLD - XAU/USD SELL - 17/10/2017

After the creation of the volume level 1283.70 - 1286.30, the price continued falling and is trading below this mark at the moment. Given this fact we can consider this level as the resistance from which we can deliberate short positions. We can open sales after a smooth upward correction in order to get a better entry point. The move should be on small volume; it will ensure us that it is not a reversal signal or beginning of the strong growth. A stop loss should be placed above the level 1288.70. The target is 1262.00.

The bottom line: short positions are in priority.