If this candle closes as a bearish engulfing, I will be taking a short position to join the strong down trend, this is also at a big round number of 0.90000 which is a strong level where banks and other large institutions are known to sell at.
I am already long on this pair from a signal on the H6 chart, far better looking than this H4 2 bar, but what the hell lol.
TP marked on chart along with stoploss.
Formed a double bottom, bullish reaction still intact on 2nd touch of bottom, also looking like a great daily pin bar will form if we close today around where we are now.
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I will be taking short positions at the 1225/1230 area once I see decent price action telling me to do so.
It looks like the 1190 handle is pretty solid for now and I think we will trade above this level for the next week or so before finally breaking it to continue the downward move.
EDIT - I wrote this before the candle close, it now looks more like a bearish engulfing!
Join the trend by selling at this pin bar here. Gold likes making head and shoulders patterns at points of trouble where it finds it hard to break through, this is as good as any signal to keep selling.
EDIT: TP Hit