after gold could break its uptrend channel now it flows on his downward path , as we see the fibo 0.618(1935) level is a great enemy of its upgoing movements and also the downtrend channel top is another enemy . also in one and four hour timeframes we can see that buyers strengh is exausting and that's another sign of falling in gold .
two possible scenarios:
1.it goes up first and then come back from the channel's top or his great enemy fibo 0.618 level.( the top of the channel is good place for shorting)
2. it breaks fibo 0.5(1892) level and can goes down to the lower fibo level .
please consider the risk manegment for trading the gold , every sudden movement could be possible .
two possible scenarios:
1.it goes up first and then come back from the channel's top or his great enemy fibo 0.618 level.( the top of the channel is good place for shorting)
2. it breaks fibo 0.5(1892) level and can goes down to the lower fibo level .
please consider the risk manegment for trading the gold , every sudden movement could be possible .