GOLD has been respecting a very strong resistance zone for more than a year. Price even used this zone as a support when price broke through. I have also noticed a downtrend in the market where the wicks of the candlesticks are struggling to break through the trendline. Last week, the candle closed below the trend which shows price still has bearish momentum in it. Last week’s price action has formed a very strong pinbar after three weeks of strong bullish movement. Price has also formed a double top at the bottom of the resistance zone showing struggle to break through. I am waiting till the 10pm daily close to be bearish to enter this trade for a short position.