amanpaulbhogal

Shorting Gold to join the downtrend

Short
FX:XAUUSD   Gold Spot / U.S. Dollar
Price has pulled back into the declining trend line (on both the weekly and daily chart ) where today's bearish engulfing bar is looking to close below the 100 ema . Encountering resistance in the 1170 - 1180 area, price could ricochet off this rejection zone giving short continuation entry on Gold ( XAU/USD ).

entry - below today's engulfing bar
stop loss - above today's engulfing bar
target - previous low or lower

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