GOLD Going Down as Planned

GOLD Technical Analysis

• MAs are bearish
• Sellers are dominating
• W L5 is the first target
• Potential for 1814

MEGATREND MAs: Bearish

H4 Chart GOLD

1. Trendline
2. Swing high
3. Trendline break
4. Final target

Gold is in downtrend. Markets are waiting for the ADP and NFP this week so we might have a ranging price action. From the perspective of a trend and trade I am shorting GOLD. 1835 rally saw the selling and profit taking so I joined the move. The spinning top was the entry which is learned on Megatrend trading course. Watch for W L5 and 184 blue line for final targets.

Cheers and safe trading,

Nenad