Short on XAUUSD pitchfork analysis

10 Feb 2020Gold went straight to 0.618 Fibonacci retracement from previous downtrend. Now it's time to short.

11 Feb 2020

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Headed to the green pitchfork trendline.

11 Feb 2020

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Also there's an important support level on 1564.81 in M30 XAUUSD that belongs to 200 Simple Close Moving Average. The price has already been repressed there a time. Let's see how it reacts to 200 SMA. If 200 SMA passes from support to resistance, it's more likely for the price to keep going down to the red pitchfork trendline. Anything is sure here, it's about catching up more and more probabilities in your favour.