1160 entry closed at breakeven, 1125 positions remain open with cautious sls at half positions in anticipation of more downside
1125 long hedged at 1187 on forst touch, longs added from 1188.3 and 1188.5 on 13th January dip: probable backtest before finally transitioning higher( given the price action on 2h chart since december 20s, the most plausible explanation). Courtesy of @2lalit entries of Jan 13, 2017 are also based on jan 17, 2017 expected range change to the upside making 1188-1195 area medium to long term bottom given december 15th drop holds for at least the first quarter.
Additionally: LT action suggests this to be an uptrend if 1100 floor is not violated concluding successful clearing of $1000 Gold/oz price level and $1100 Gold/oz price level, which also suggests next flooring will be 1225-1203 area before $1300-1325 Gold/oz is cleared. Possibility of 1280 to 1225-03 range drop or 1325-1337 to 1235-25 drop will be eyed when and if the time comes.
Partial profits (50%) taken at 1342, Total time: 10 Months, Pips: 1342-1125=217
SL on remaining trades moved to 1298; Target 1400(initial) and 1487 (in extension)