By looking into Gold Daily time frame, we can see gold is in a bigger corrective structure now which is developing from the last 6 months almost. The recent sell off from the 1955-1960 gave us the hint of the further weakness. A bull flag pattern also developing in the daily time frame which indicates that the bigger direction is towards the up side.
The H4 is making head & shoulder pattern in my opinion and i do like the idea of shorting the pair until it is sustaining below 1900 - 1910$ area.
This upcoming sell of (which is of course my opinion only) could be the 3rd touch of the lower band of a bull flag around 1730 region.
I will look for the short opportunities for Gold with the target of 1780-1800$ area.
The analysis will become invalid if it breaks higher above 1900$.
Wish you all the best.
The H4 is making head & shoulder pattern in my opinion and i do like the idea of shorting the pair until it is sustaining below 1900 - 1910$ area.
This upcoming sell of (which is of course my opinion only) could be the 3rd touch of the lower band of a bull flag around 1730 region.
I will look for the short opportunities for Gold with the target of 1780-1800$ area.
The analysis will become invalid if it breaks higher above 1900$.
Wish you all the best.