Is it a continuation? With symmetrical triangles on some occasions they give a fake breakout in one direction then tend to go the other way.

In this scenario, we're looking to short the market so we're looking for this to break to the upside and give a fake signal. We're keeping an eye on this.

This could now make sense with our 4H analysis earlier this morning where we could see a move to the upside before coming back. No one can get it 100% right, but lets see how it plays out.

When we enter we'll let you know what we're doing.

Thats our 1810 target done from last Thursday. Now we're looking for a retest of the level below. If it supports we'll take the Long trade. Strict stop loss. There is still a lot of momentum, it should not take out the low for this to be valid.

Low taken out

This is what we're monitoring at the moment. If it breaks up the it should cover some of the bearish candle from yesterday.

However, having said that our indicator is suggesting a sell is coming in the next couple of hours. So we're not taking any positions at the moment apart from scalping.

The movement we've been suggesting is happening, its just a shame we didn't get to catch it as we wanted to. We're keeping an eye on the charts and will let you know our next steps.

If you look at the messages going back, we've insisted on remaining short in this market. Yesterday was another reason why going long wasn't a good idea. Monitor this 1785 level, closing below should put more negative pressure on the price.

We'll keep you updated.

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This is what we're looking at today. If you've entered a long at the bottom probably worth holding it, see what sort of reaction we get around 1792-95. We're expecting this to go lower down so we may test a short at the mentioned level.

Lets see what happens if we get there.

We're still holding our shorts, a break and close at 1800 EOD and we'll look to reduce exposure.

Right now 1790 looks good, 1783 and 81 should support the price

Just shy of 1790, we got 1789.63 on one of our brokers. We didn't enter the short, waiting to see if we get a retest of the level. As above, 1781 should support for this to move further up. EOD close below 1785 will mean bears are still in control for now

Hope everyone is managing with the moves gold is making. As we mentioned this morning, we saw the move towards 1790 where we were looking for a short. We didn't get the opportunity unfortunately. The Long we took was enough for today.

We have to take caution here. We have options expiry coming up so gold will be moving like this in the coming sessions.

We have a few targets in mind but will let you know how we're trading it.

Lower target of 1762 for a long
Higher target of 1806 for a short

These are not trading signals. We'll share our analysis as we usually do before we take the trades