XAUUSD SHORT

Previously we had our descending channel that broke out to the upside with a confirmation of the W pattern. After fighting the push up it turned into an ascending wedge and after that 4 hour candle open outside of the wedge trendline we dumped 87 points and also broke all of our previous supports from our descending channel.

We've now formed a bear flag which I have mapped out. Rejection from previous W pattern neckline might bring price down or also a rejection from the green trendline that forms the bear flag.
Looking for entry at the break of the red trendline forming the bearflag but that would also be with a confirmation of a higher timeframe candle close below that line.


This of course is just a prediction. HAPPY TRADING :)