If price break above blue line would spoil the bearish structure. anything within the range could wait at the low risk entry point for Short. *watch out those RED line once touch you may set your SL at entry.
you may catch a short if any retrace till the blue line area and got any price action to short. you may long if the price go above blue line and you may hope for a breakout. *Overall trend look bullish for gold unless the highlighted area broken.
Possible retrace area to catch around yellow line to long watch PA to decide. Long continue if the price break through Blue circle area. Possible short if at the blue circle area got any Price action. will be smooth to go down if all the yellow line n Blue line broken. Remember the Triangle pattern it may just move in between till next week US interest rate decision.
there are few key area basically break green line i would take a long and if the triangle broken will keep till TP. if price break the triangle then i would take a short till it break the 1st yellow line SL to break even and aim to second yellow line TP.
Looking into the chart if there are any good PA break above the yellow line and the triangle pattern then would be much more power to go to the 1st highlighted area.
Looking to long. You may entry around 2 yellow line area to get a better entry. 1st TP shud be 1.55429 area or 1.56017 area if that key point broken can straight go to 1.578 to 1.58 area.
Low Risk Entry area for long.If the Blue circle area and highlighted orange area broken then you may move your TP higher to the Thick RED line area.
Watch at key area and wait for Price action at the blue circle point. if it not broken should be continue to short.
Short term wise i'm looking to short and you may find entry around 0.84-0.841 area unless the SL area broken and the Thick RED line will be the last point which the whole chart may change to different way. the Whole sell setup need to break that Circle Area that indicated in the chart to go down smoothly. Due to the week would eye on ECB decision so if can try to...
Potential Short and may seek entry at better point which yellow line area and u may wait if another new high not form. Wait for price action around the area to decide your entry. If you had enter short then u may leave if new high form. If you short find that 2 TP in the chart would help.
Potential Long which observe the 1 hour price action around the Red Line area to fine an entry for LONG. TP Area you may see TP 1 (469) & TP 2 (658). *Short Term trade as the overall trend will still look bearish bias. *unless the price could beat up the orange area. *If there are any price touch the orange Area and give a good PA on it i would take a Short (Try...
I would looking to short for next week. (unless Canada cut the interest rate) if you not yet enter any short you may looking to short again around Yellow Line. 1st target is the thin red line after that second target is green line and last orange line. Red line currently doubt it will go till there for next week. i doubt it will go too far as USD don't have much...
Basically think it may retest 1.1188 area before going up again lets see EP SL TP refer chart