Potential scenario for shorts on Gold.
You can see the larger descending channel i've marked up which could be tapped and give us a reaction, with the chance to catch a large move to the downside.
Alternatively i've added that smaller bullish channel you can see, it may not quite retest the overall trendline and may instead just break this counter channels sloping support and retest support as resistance before going short.
Overall there's a couple scenarios here you can all see marked out, so as always just keep an eye how it reacts in these areas in general and be smart about an entry.
You can see the larger descending channel i've marked up which could be tapped and give us a reaction, with the chance to catch a large move to the downside.
Alternatively i've added that smaller bullish channel you can see, it may not quite retest the overall trendline and may instead just break this counter channels sloping support and retest support as resistance before going short.
Overall there's a couple scenarios here you can all see marked out, so as always just keep an eye how it reacts in these areas in general and be smart about an entry.