The target range of the cup pattern.

According to cup pattern in 30 minutes time frame the gold price may reach around $ 1789.00.

This is because the range of cup pattern in the picture is around $ 30.
At this point, it's high risk to buy now.

However,You should wait for the short (sell position)at around $ 1789.00.

The reason is;
• The price around $ 1789.00 is 61.8% Fibonacci level (highest $ 1832.00 ~ lowest $ 1721.00).

• The target range of the cup pattern.

• By looking at the dollar index,it fell back from resistance around 93.18 last week.

• But it also could lead to break out condition.
Just after the breakout, the entry position have to be changed immediately as the following price range.

P. S
According to the above information, it is for day trading