GOLD SELL: ENTRY AT 200EMA, TARGET AT 382 FIB RETRACEMENT

GC is currently bullish while DXY is bearish, so if sentiments remain intact, then Gold will rally but in the short term, my technicals are flashing red as clearly seen on the chart. I am therefore placing my pending order at the 200EMA which is seating at a previous support zone currently acting as resistance. I see price shooting to the 200EMA and then retracing to the 382 fib level before making a final decision as to whether it will rally or continue the downtrend. Also my RSI is comfortably seating above the 50 level (bullish) but was overbought(85) on Friday at the 1hr TF.
Hence, I am a bear in the short term. I may throw in a small size entry at market price with the same target, just in case price decides to drop from here henceforth.
Cheers!

Trade geschlossen: Ziel wurde erreicht:

+ 154 Gold pips