CFD sur Or (US$/OZ)
Short

Gold Possible Scenario!!

125
Price action retested the supply zone grabbing all the liquidity and after that it has formed a big bearish pinbar on the 4h timeframe which is our main bearish signal.
Sudden drop then we got a bearish flag pattern which also represent a breakout of a trendline + retest that we can use as confermation of the downtrend
we got at least 3 confluences. 21 EMA below 55EMA(1hr), breakout + retest trendline, a formation of equal lows at 2002 level which represent our liquidity zone.
Most probable scenario is continuation of the downtrend with first target 2002, 1983 then 1975.

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