GOLD has made a surprise bfore Thx Giving Holiday. Check on wkly chart, you would see the pressure zone that we were expecting a breakout leg did now happen.
So now take the new wkly chart like this, GOLD could just finished a ABC wave after the green leg, a new leg could happen if price keep down to break the support level on wkly chart.
Or just sideways ranging from pressure zone to support zone in the last few wks of 2021, a new leg up to break pressure zone in 2022.
Either way, gold is going down to test level near support level on wkly chart. So keep eyes on 4h/6h chart to find out your entry confirming signal.
RISK LOWER THAN YOUR TOLERANCE: Suggested Risk <5% Your Real Entry Position Will Make Different RR for Your Trade.
@FUNTRADER-Vera, As you stated Gold looks bearish in daily and 4hrs chart. in the short term it's likely touch $1730'ish.. Let's see it's get's support there are not!! If that break next one is $1680'ish and $1640'ish.. I am short on the Gold