The level 2 set up of MAs, fibo, ZZ and chart pattern indicate the possibility of a spike between 1126 and 1101. Hence the closed the BUY order entered in the morning with a profit and entered a SELL order of 0.4 lot size to protect the profit. There is a possibility that the gold price will bounce back immediately from 1101 to a price higher than last week's high. Will wait for the current H4 candle to close and then analyse the chart to on further action. Since there is also a possibility of a upward price spike without the prices going to 1101, keeping my original BUY order open still.
