Daily Analysis - Gold

Signal Appearing

From chart we see the down trending from about 1876.65 seems ending at about 1761.10, after there is a "N" pick up(yellow) to about 1791.25 which broke the trendline(red) leading us a signal of down ending. 

Position Plan 

In the down trending, we see a range bound(blue rectangle on the left), we make a similiar rectangle with same length then we may open a long position around 1770~1775 and stop-loss below 1761. 

Risk Control 

Make sure the stop loss respecting our fund management strategy. 

Profit Expect 

• We may put take-profit around 1792 directly and wait for either stop-loss or take-profit except for it going a little after the Vertical line(Red, or the right edge of blue rectangle on the right) still in the blue rectangle, we close the position.
• We may also put take-profit higher like around 1808 and if it goes above the blue rectangle on the right hand within the length of it, we move stop-loss to the top of it and close half of the position.

Profit Flying

Hold the other half position until ...ah... we become a billionaire, wake up, it's just a daytime dream. :P