XAUUSD:Will it rise or fall next?

How will gold be traded next? You will understand after reading it!

From the 15-minute short-term level, gold has formed a head and shoulders top pattern, which is a bearish pattern. As can be seen from the current 4-hour chart:

In the Fibonacci trend line from 2222 points to the current low of 2157 points, the vicinity of 2182 points is precisely the key position of this trend.
If the back draw fails to reach 2182, it will inevitably hit a new low.

So today's closing is very critical. As long as today's closing price is below 2180-82, there is a high probability that it will continue to hit new lows this week.

On the contrary, if it closes above 2185 tonight on Monday, the market outlook will continue to maintain high consolidation and may continue to hit a high near 2195.

Therefore, it is currently in a very critical position. As long as it is confirmed that the upper limit cannot break through 2180-85, there will be a downward trend in the market outlook.

It is recommended not to chase long here at 2180, but to wait for the signal to appear. As long as there is no certainty that it will break through 2185, then I think it is time to continue shorting based on near 2180.

I will update the detailed strategy at that time, follow me, trading is that simple!

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It’s not the best opportunity to go short right now