Take a look at the XAUUSD and the downtrend starting in first week of November 2016. We can see that the 50% resistance level held strong but broke eventually and price rose up to 1244.519 but eventually this 61.8% Fibonacci resistance level held it and a downtrend is froming as a result . a order of 5.5:1 leverage could be placed as you can either target the 78.6% or 88.6% Fibonacci extensions (reversed) .