Gold has been on the uptrend as a part of a bigger time frame correction. At the moment this instrument might push a little bit high to 1800 thereafter form a rejection candle that will be a good entry. Alternative entry is when a price break below 1760 level, break and retest a pattern highlighted in dotted line of which look like an ending diagonal. First target is located at 1700 then we might see a consolidation along a daily time frame trendline, then continuation toward 1660.
Elliot wave - 5 waves on C leg almost complete and ending diagonal visible to indicate a loss of momentum from buyers.
Price action - We can see the shooting star which indicate buyers try to push the market higher, but they got rejected by a selling pressure.
Chart Pattern(Geometry)-Ending diagonal visible to give us signal of reversal.
Elliot wave - 5 waves on C leg almost complete and ending diagonal visible to indicate a loss of momentum from buyers.
Price action - We can see the shooting star which indicate buyers try to push the market higher, but they got rejected by a selling pressure.
Chart Pattern(Geometry)-Ending diagonal visible to give us signal of reversal.