the higher high is divergence... its going to break lower low... and i hope daily chart going to be double top pattern from now on!!.. lets see how far can we go with this SELL position!
There is many zone below the 1778 area that will make gold always pullback.. so gold will be zig zag to the bottom.. scalp or intraday trader better do buy and sell with trendline analysis + SND as basic as long gold not break 1762 as our strongest support area
Hope this trendline help for the rebound of GJ.. and continus the down trend
There is a big chance for gold to not break the major trendline.. this price action / channel line is strong enough to pulling back gold until now.. area beetwen 1827 - 1816 has to break down to confirm gold will continue going down.. if gold can hit 1824 there will be the confirmation of double top pattern and chasing the strong support retest at 1680.. will USD...
Range entry sell zone beetwen 1822 - 1826 if there is posible to reach trendline then just stop loss at 1827 and reentry at 1831
Sell in zone 1805, its going to bounch at the strong resistance area before going to 1755
there is posibility that gold after this FOMC will break 1722.. and make retest at 1683.. everything will happen in this week while USD tappering
its not going to reversal until hit fresh demand zone in the daily chart.. target short this whole day is 1761
The gold is again breakin up trendline in H4.. the next target will be held at 1764!!
its going to down untul 1782.5 - 1785 in the next couple hour.. lets sell gold!