Gold Futures possible back up action to start a rally up
Gold futures (GC)had a reaction to the previous support area around 1691–1700. This could be a back up action prior to start a rally to test the the next resistance level at 1800. Below is a potential trade setup for Gold futures.
Instrument: Gold futures (GC)
Entry: limit order at < 1691
Stop loss: 1676
Take profit:1722
Reward to risk ratio: 2