Gold Short

10 Des 2019

*Sell Limit Order*

Its evident that the price is stuck in a sideways channel, and the area at which the price rests gives no clear indication on the short term bias. Coming off some strong bearish movement cause by the NFP, there no clear sign of a solid loss of momentum, thus Bias should remain bearish. I'm looking for a retest at the 1465 psychological level.If price rejects like the previous resistance, we can be confident to short and look to drop into the zone at 1454 region which is a major support level.
In addition, from a fundamental point of view we can expect further downside due to the positive employment and earnings reports (NF & hour earnings) from last week.
A trump tweet in regards to the china trade deal might swing the price back up, but i do hold strong bearish bias for the short term.

Stop loss is tight as a always, with a- 1:6.5 Ratio

Sell Order Entry: 1465.3
SL: 1467.0
TP: 1453