Short is making a bearish flag and or a triangle now. What nowadays also gets called an inside bar (on the 4H chart). It's at the support level now and almost dropping below it. Target is around 1330 and a stop around 1352
Here the 4H chart where you can see the inside bar. You can also see the big H&S i traded on 2 weeks ago. Because of the exceptional move last wednesday it got pushed higher and through the neckline again. But it was clear it was all part of the expiration of the FEB options that expired last week. Because of the crash they had to push it as high as they could. Normally gold moves contrary, but lately GOLD, OIL, EURUSD and the stock market make the same moves.
Bearish confirmation of the inside bar (break of the flag)
Trade closed: target reached:
What a perfect trade, reached the target faster than i thought