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ollosimango

Gold Short - 618 retracement from Double Top (2618) -Daily chart

Short
Gold Spot / U.S. Dollar (FX:XAUUSD)  
ollosimango  
FX:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Chart Patterns analysis Gold XAUUSD Double Top shortsetup 618 Fibonacci Retracement 2618 Trade
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trendanalysis chartpattern analysis gold xauusd doubletop shortsetup 618fibonacciretracement 2618tradesetup
This pair has been bullish up until we made a new structure high and failed to break it on a second test, forming a double top . Price then was able to break the previous low confirming the buyers are running low on energy. A retest and break of the new low would confirm a change in direction. Entering short on a clear rejection of the fibb 618 retracement with 1st targets at the neckline.
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