Gold is currently in a downtrend on the h4 chart. This is evident by the series of lower lows and lower highs being created. recently price has returned to the 1724 level which is a very good level to look for shorting opportunities. We have the confirmation of price touching the trend line in confluence with structure. Also note that price has respected the 786 fib level thus far which is a good sign that bears are stepping into the market. It is only a matter of finding a valid entry on a lower Time frame.
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Disclaimer
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.