The upper leg was tested this night.
had crossed over. Stocks are up. Dollar is still heading down today.
Because I don't want to lose on this one - and I'M not sure we can come down to the triangle lower leg - I'll take profit on the half of the position at the 200 (1225.61) .
STOP : 1249
The other half I will be waiting to tag the 300EMA and the lower trend line.
The other half has the stop at 1249.
What I think that in the last hourly candle a big player was positioning for a long, that's why we couldn' t tag the lower trend line.
But technical traders are not buying , so we have to go and tag the lower trendline and then it can go up. The maximum is where we can come down is 1222-1223. And I'm done with shorting gold.
I think when the dollar turns down - EurUsd up- gold is going to break up from the pennant. I will post a chart soon.
But the main thing is for you: close these shorts around 1222-1223.