currencynerd

can we expect further movement to the downside?

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
on gold I published an idea to short gold a few weeks ago (find the link to idea below). I executed short orders @ 1873.341 where price gave us a third touch on bearish trendline and extra confirmation was price was reacting to a liquidity pool from 1870.164 to 1859.734 where price went according to the analysis and pushed to the downside. currently I am looking to add more short orders as my initial targets are around 1682.783 liquidity area. From current price we still have 8900 points to reach target. Right now price broke out of bullish trendline indicating that there is still bearish momentum present in the market.

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