I am not a pro in technical analysis and started learning it by classical books (Schwager), so I decided to do my best. From my point of view, this is clear that here is Flag, that means that downtrend will continue after exiting this channel. Please share your opinion, it will be appreciated a lot :)
Trade closed: target reached
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So, as we can see, we reached our target today. A bit earlier than I expected, but it is still good. At this point (1190) it seems like gold is not gonna to stop and go a bit lower, bounce and then we'll see a good upside trend. Cheers!