This is a scenario for longs.

We're looking for support around 1796-1784, the price should ideally wick in that region and close above 1810-13 on the Daily.

Target 1: 1830
Target 2: 1840
Target 3: 1850

Optimal Entry - 1795
Stop Loss - 1775.00

I want to be out of longs if we head towards 1850. My short-term view is still for the price to go further down so i'm expecting a liquidity grab between 1850-75

Not trading advice, just my thoughts. ALWAYS Manage your risk through strict stop losses and money management.

Update:

We have opened a small lot BUY ORDER

First target short-term - 1820

Strict SL: 1775

I would hope there to be some retracement on open and during Monday.

Overall my bias remains down further. Levels are there to see. 1794 and 1810 look to be a crucial zone for this week. I have a lower level of 1760 short-term which is not on the chart. Any buyers from Last week will have a load of stops around there so
it wouldn't surprise me to get an up, down then up over this week.

However, this is GOLD .....We could go striaght down to really flush out buyers.

Trading with caution this week until late Monday of Tuesday where the chart usually gives me an indication of whats to come.

Trend is quite obvious. Down.

During the course of the week I will share my trade ideas and trades. I don't usually trade on Mondays

Merlin is waiting for 11am. Our first trade of the day looks like it will be a short towards 1757

Trade idea:

Sell - XAUUSD
Target - 1757
Optimal entry - 1780

Stop Loss - be sensible and use a small lot. We're low in the range and expecting the price to turn up at some point.

Merlin.

If you're in this trade we're looking to exit around 1848

1850 is the pivotal point today. Looks like we'll get a reaction at this level. We've gone up and tested the neckline
of the previous pattern, both 4H and Daily timeframes are showing we need to test the neckline below.

We will sit tight and wait. 1850 to 1835 key areas.

Gold needs to break out on the 4H in order to test lower levels. Right now we're waiting for the next
4H candle to form and will analyse the market from there.

I'm looking for a break of the trend-line to go lower or the formation of a double bottom to retest the higher price points.

We remain neutral on the longer time-frames so will continue to use the M15/M5 charts for our short daily trades.

Looking for support below. IF support holds, we're going to take a small LONG
position with the target above.

We're taking a very small lot here as its Friday evening. If it doesn't Stop out or TP we will hold it into Monday.

We don't trade this but it looks good for a LONG if it breaks the resistance.