Everything that went up comes down sooner or later this planet.
It's a sure thing just like the cycles.
When price is starting to move down into the DCL the first red day of the decline usually has a 50% pullback.
So most probably we will tag 1535 before we turn down as shown below:
All the indicators are showing...
Gold fell quite sharply and have been in consolidation so far from past few sessions, i am expecting this market make another move lower, so wait for the market to break the yellow trend line for the execution. Stop prior highs around 1540.
Price started to loss in momentum
Wait for valid bearish CRS then entry
Sell limit @ 1497, SL @ 1505 (80 pips), TP @ 1475 (220 pips)
Let me know what you think. TAYOR
-Gold is hovering around key level
-US China trade talks are progressing
-Global growth factor easing
Gold is at Resistance level which seems hard to break, Look further downside to 1460 and 1440 respectively.
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Ill be looking for SELLS on GOLD but I'm expecting a retest of the 50% level before we see the bearish movement, If we break it will wait for a retest for another analysis ( Feel free to leave a comment )
Big red rejection candles are present from current resistance level
Overall outlook is still very bullish on higher timeframes but gold may see a deep retest to 1400 or 1356 level before another bull run