XAU/USD - Long

Wow, what a crazy move today for Gold. I was watching to see if we could close above 1600.00 area before taking a trade and this morning it has done exactly that! I took profits just a few pips before we tried to touch the 1650.00 area.

So I will now be watching to see if we can break the 1650.00 area or I'm thinking we may see a drop back down to find support around 1600.00.

If you're trading Gold, don't hold for too long, with all the fundamentals that are occurring all over the world, any news could come out at any time.