#XAUUSD - Short from 1222 level Targeting 1213-1209 level.

#Gold #XAUUSD 1H I saw a pennant pattern forming, was waiting for the directional break. I initiated the short at 1222 with a 5 point stop, looking for 1211 area and possibly lower. The 100% Extension Fib comes to the 1216 area, so will trim some there and keep the rest.

Trade closed: stop reached:

Stopped out with 5 point loss.

Trade active:

Long Gold at break of the upper Pennant. targeting 1250 level.