RAPID UPDATE Gold (XAU/USD) TP @: 1783.70 SL @: 1769.3 | Focal Community Group (FXSignals)

RAPID UPDATE
Gold (XAU/USD)
TP @: 1783.70
SL @: 1769.30

Gold actually saw only losers today. The majority of gold positions are/were LONG. The hefty crash today hit many of these LONG positions hard, especially as gold broke the $1.770 lower range. There were a number of re-buys at $1.775, which ended up being massive losses as well after gold continued to fall all the way to $1,760. Then we saw gold in a bearish channel where many short term and technical traders positioned themselves SHORT only to be surprised by the sharp rise.

We, on the other hand, did everything right and got into gold at the perfect time - congratulations to all of us - a magical gold trade