Gold short Daily and 4h Bias!

Gold have been going downward on both 4h and daily candles and only broken this channel once since 6th of march by about 130 pips. I have drawn zones (blue squares) on 1 hour chart and put my entry in the zone (blue squares) . Since the movement only have broken the overall channel once and only by 130 pips i've also put a sl above the channel at 200 pips just to be safe. Overal target will be at the bottom of 3 day upward trendline as gold have been ranging in this area for the last 3 days!


ENTRY: 1517.11

TP: 1461.88

SL: 1538.04

Comment:

Gold continuing to consolidate between 1470- 1480 area. I would like to see a push above the 14 day EMA and a retracement followed by a rejection to the downside before gold continues to push up to the last zone of resistance then look for entries there!