In reference to H1 and H4 chart, the price is forming a downtrend, showing lower highs and lows. Wednesday, the Gold tested 1229 which is the resistance of the downtrend line and then found support at 1220/1221. Before the Euro market, the price goes up to around 1224, which is in the middle of the channel.
I'd like to short at 1227/1228, of which the SL would be set above 1230 and the TP be seen around 1217/1218.