XAUUSD (GOLD) SHORT TRADE SETUP

Traders:

We have finally see some resistance on XAUUSD (GOLD) on the daily chart around 1255.00 area. We are also seeing a potential Daily Head and Should pattern developing, and today we can see the price action form the right shoulder, confirming the bearish momentum.
1 HR chart has a double tops, and broke down support trend line. We can wait for a lower high to develop, and a mini head and shoulder pattern to present itself before shorting.

Target 1: 1244.50 (2% Profit)
Target 2: 1234.00 (4.1% Profit)
Target 3: 1220.00 (6.9% Profit)

Thank you for your support and feedback.

הערה:

הערה:

No trade taken as the FOMC minutes spiked up the price action.