Triangles and are continuation patterns in 90% of the cases. This one is in the 10% exception as it broke down and no to the upside.
I dont find anything just retail trader sentiment that supports the long idea...
The target counted from the triangle (purple line) is around 1190-95.
Once we break down 1190 we are entering into the panic selling stage.
Gold will shift gears in the decline when USD breaks out from the range.
Lower low again.
Once we run out of buyers gold can't stand up.
Relax. Let the bulls to freak out.
Important how it will close. I would like to see a red candle. In the next hours we can see some kind of bounce. Don't count on 10$ move, but something will be , some hope to the bulls.
I'm 100% sure that the decline will continue tomorrow. On the attached picture you can see the 4 big volume candles... ;)
It's a daily capitulation.
Gold for sale.
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