Gold is in a down trend.
Chart below:
Price has broken through the 4 hr trend line (chart below) and then retested it.
Price has now broken down through the averages and I am looking for a short position as detailed below.
Levels and Chart below:
1st entry: 1330.00
2nd Entry: 1332.00
Averaged entry: 1331.00
1st Target: 1301.00 (5%)
2nd Target: 1270.00 (10% and previous lows)
I will update again should the position be opened.
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