We might watch the sellers to dominate Gold for a short period

Price has reacted the .618 fibonacci level and we expect a further decline.

Price should break the channel downside in order for us to get involved.

Like and comment if you find value in our analysis.

Good luck



NOTES:

- All trades are executed with a valid signal of our own. As a trader you should develop and test your own entry protocol.
- We never trade just because the price reaches the trading zone. This also means that not every idea is a valid trade.
- Our analysis are trading ideas not trading signals for you. Therefore questions about the status of the trade, stop loss, take profit levels won't help your progress to be a better trader.
- Instead of trying to take this trade and win small profits, focus on the analysis and how to create your own trading style.

Best Regards.

Comment:

Price has created two fakeouts and expanded the zone. It's still early to call it cancelled but it is obvious that setup is not tempting as it was before. Let's see what happens tomorrow

Order cancelled:

The order block which we intent to use the breakout is broken upside. Therefore trade is not valid anymore.