FX:XAUUSD   Gold / U.S. Dollar
339 2 12
look at the 4h chart ,the important support level was brokenout by strongly power ,i think the drop down space is opening .now, a AB=CD pattern completed at 1290.00 and the RSI is over sold here , so i suggest the short position should take some profits here .if you didn't do a short trade,i think there is an idea to plan a long trade at 1289.00 area (of course ,must light position ) ,i don't want to trade this short-term long trade ,because it's not my trade style .what i will do is waiting the price pullback and retest the neckline (at 1300.00 area ) ,then i will get ready to short .
good luck guy.
Comment: wow,the drop down's power is so strong ,don't buy !!!
Comment: panic selling last night .
Order cancelled: 1300 area is an important support level this year , most buyer set their stop loss of the long trade here .so if the price drop down quickly , most of the long trade are forced to stop out , made the drop down much more poerfull .
Comment: the gold get some support now (the 0.382 fibo and previous support ),if you still holde the short trade ,suggest to take some profits here.
snapshot

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Will be monitoring price movement next week
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cowboy -Andrew-
thanks guy . l still focus on 1300 area .
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