Bearish Gartley at 78.6% or bearish bat at 88.6% of point D.
Short once we reach 1304 price action.
Note: This is on daily chart. It might take weeks before we reach 1304 or it might just take only few days.
Federal Reserve Chair Janet Yellen said more interest-rate increases will be appropriate if the U.S. economy meets the central bank’s outlook for gradually rising inflation and tightening labor markets.
GC has been oscillate btw 1200-1220. Recent two day's rally is largely due to FOMC remained interest rates constant and that drives Gold higher + the uncertainty that Trump will bring on H1B policy. Expect to see GC back to 1205-1210 again in couple few days.
short limit order 1206.5
2618 trade setup - short (double top, .618 retracement to enter short trade)
US Dollar index (DXY) could possibly find support around 99 to 100.5 for another bullish wave
As expected, GC didn't break through 1220 and went down to 1200 range and fell into the blue box support range. It's likely to to test 1188 directly or went up from 1200-1210 and test down to the next support again.
Gold not holding above 1140 and drop badly where Weekly strong Resistance also around 1148 where below 1150 is now giving support to seller
Advice sell in range of 1138-1147 sl above 1155 TP1 1122 TP2 1112