FX_IDC:XAUUSD   GOLD / US DOLLAR
62 0 4
If price declines below the Bullish trend line . Price action will most likely begin a reversal to the downside. Good short signal would be at 1308.05 which is below fib retracement 0.382. First TP is at 1287.23 just at 0.5 fib retracement and if price action continue to decline through the bearish breakout TP2 is 1266.40 which will hit key area 0.618. Any further breakout from the two profit target will result a further move to the downside.

For a bullish signal price action must break key level of yearly high at 1369.56. TP1 would be at 1442.91 and TP2 would be at 1484.57.

AT this point of time market is going through a consolidation period which has to be broken for some real volatility to either the upside or the downside.
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