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amanpaulbhogal

Shorting Gold to join the downtrend

Short
Gold Spot / U.S. Dollar (FX:XAUUSD)  
amanpaulbhogal  
FX:XAUUSD   Gold Spot / U.S. Dollar
Bearish Engulfing Support and Resistance Trend Lines Exponential Moving Average (EMA)
5
0
bearishengulfing supportandresistance trendline ema
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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