Spot market of Gold in the 4-hour chart is in a downward trend. As you can see there has been a breakout below the lower Bollinger Bands, which only confirms us in belief of the predominance of supply. Currently we have a upward correction. Its completion may indicate a return to declines. In order to join the trend can be used strategy Bollinger Bands # 3A. We are waiting for creation of new local low at 1170.70, which is a potential signal to take a short position and purchase PUT options.
In the meantime, the price on the chart H4 cannot close above the lower of Bollinger Bands.
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