US Dollar is starting the week strong and gold looks weak , it is moving down inside a descending channel on 4 H and on 1H , next strong support is 1700-1705 and than the area of 1685-1690, if gold does not get back over 1731 soon we can see a bounce in one of these two level of support; i am looking to sale a bounce to 1730 if it gets rejected or a bounce off support level at 1700-1705 if it get a retest or 1685 with a retest, so both trade are open.
Note
short 50% at 1729 with tight stopNote
stopped at 1732 with a small loss, gold is breaking up and moving to high end of the channel, waiting to see the reaction at 1747 resistance
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.