Hello friends. I saw a Strong Trendline Breakdown in Gold and Decide to share with you my opinion. I think Gold is in Overbought Area and It will record some correction in coming days. So i have some reasons for my opinion: 1-In Daily chart we can see a strong Bearish Engulfing candle (as you see in picture below) 2-in Daily chart we can see a Divergence Between RSI and Price in Overbought Area (as you see in picture below) 3-A Strong Bullish Trendline Breaks down in 1H. 4-We reach an important Resistance near the last High and psycological level of 2000. so for this reasons i think Gold experience a little correction in coming days. I think Gold will reach targets like 1900 an after that 1880. I hope you like my idea and i will be happy if you share me your opinion too. Thanks for reading my idea.
Just dont forget to set a good Stoploss and enter a trade with at least 1:1 R/R.