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Expecting a Sell

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Following the downside consolidation overnight, gold broke the range to the downside, confirming a symmetrical triangle breakdown on the hourly and H4 sticks. The price closed below the rising trendline (pattern) support at $1927.42. The move lower exposes the pattern target at $1875. Ahead of that level, the bulls could defend last Friday’s low of $1916.42. A...

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Gold continues to maintain a downward trend on the H4 retesting the fib with consistence as it breaks through the triangle. Possible entry area indicated on the chart.

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A falling trend breakout on H1 as the spot clings onto the critical triangle support looking at the retest of 1960.00 💱 BUY LIMIT 📊 Entry: 1935.00 📉 Target: 1960.00 (250 points) 📈 Stop Loss: 1925.00 (100 points)

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Trend Analysis

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After days of building up the a short trend finally appeared breaking through the support line. This will continue. Looking At Selling limit; Entry: 1.99370 Target: 1.9787 (150 pips) Stop: 1.9987 (-50 pips) The stop should be 2% at most.

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The Pair has been working the current high looking to go low but has respected a demand zone at 1.28867. I suspect that the Pair will push through the demand zone to reach a stronger support line at 1.28360. Looking to Sell: Entry: 1.29471 Target: 1.28360 (60 pips) Stop: 1.29771 (30 pips)

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Two points where the upside will resurface. A new resistance line might be instated or a continuation to new highs.

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Pull back forms before it continues down to 1.88130. SL above the Pivot at 1.89980

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All explained in the chart. Most likely a downside. The SL should be above the Pivot point. The degree of likeness depends on supporting news and sellers causing a break through the demand zone. Alternatively: An upside prevails above the pivot point. Or the pair shows no significant volatility.

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An upside to go beyond the pivot point was rejected, which has seen sellers push it below the CPR. The narrow CPR is a signal to watch for a trend and if this is respected a trend is possible especially if the demand point at 140.280 is broken. If you choose to sell put the SL 141.00. Alternative, if the pair experiences a support and goes beyond the pivot point...

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When it breaks through it will touch the trend line.