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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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