As it can be seen Gold has broken my trendline which i entered a sell at 1580. Im expecting further downwards movement as the situation in Iran is stabilising which will therefore make gold drop back down to my TP at 1517. This is a perfect area as it aligns with my -61.8 fib and this is where one of my key level for this currency is at. However, there is uncertainty of what will happen between us and iran therefore i have moved my SL into profit. i would recommend traders to partially close trade leaving yourself with some profit and let the rest run. Use proper risk management when trading gold as this currency fluctuates alot! TRADE AT YOUR OWN RISK
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I've just reanalyse this chart and identified a key level at 1555. wait for the candlestick to close below this level to conclude a downwards movement