DANGEROUS! IF Gold Break Below Ending Diagonal Sighting 1720!!!

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Interesting thing about Ending Diagonal correction pattern is that the asset breakout can occur either side - bullish or bearish . With increasing bearish sentiment on gold , there is high possibility for gold to continue on the down side. Possible reversal level at 1789 or possibly testing the lower channel of the daily bullish wedge ... However, a break above the correction may cause gold to start ticking up

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Shall i keep TP 1849 for safe side?
+1 Reply
BullBearMkt meerahans2910
@meerahans2910, better. structure turns bullish
Nice man! Would like to see the bounce back to 40,50 first but do see it heading lower
+1 Reply
BullBearMkt EasyCharts
@EasyCharts, Fingers cross on gold's next move as market opens. Thanks for your comment
18/01/20: 02:01 GMT - Price rejected & pullback into the ending diagonal. For a short trade, price needs to close below the pattern and a pullback will be a good trade. As it stands, a rejection indicates buying pressure for gold
meerahans2910 BullBearMkt
@BullBearMkt, hi, shall i keep TP 1849 for safe side?
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