GOLD
Is currently holding critical support at $1850. If the $1850 mark is broken then this trade set up is invalid. If the $1850 mark is held and there is no clear bearish divergences on the 4hr timeframes, then there is a great short term long position.
Long position:
Entry between $1850 to $1860
Take profit:
TP1 : $1880 - Around the 0.236 Fib
TP2: $1885 - just below the next resistance
TP3: $1922 - 0.618 Fib
Stop loss: Should be set just below $1850 ( I set mine at $1848)
This will result in your position being closed just after the critical support is broken
Another potential bearish scenario is if the
DXY
breaks and closes a daily candle above $92,50 and $93.