For Education purpose only.
Looks like the Sellers are assuming higher and higher positions only to crash the Gold Market down. This idea can further be layered with the intersection of Price with the median of the Pitchfork drawn with the major edges of the Market. The upward line of Blue modified pitchfork can suggest the next possible short entry.
Points to indicate that pivot 4 may be the Market edge for Short entry.
Price respecting the below classes of information simultaneously.
1. Frequency shift line in Red horizontal line.
2. Median of Pitchfork drawn with respect to vectors 1,2 & 3 (at pivot 4).
3. Divergence of Price w.r.t RSI between pivots 2 & 4.
4. Steep fall immediately after touching pivot 4.
Entry: 1715 (Now)
Stop Loss: 1745
Target: 1655
Comment:
Price is currently trading at 1660. Our Target is 1655. Just few more pips to reach Target:)
Disclaimer: The above analysis is for pure educational purpose only. Trade at your own risk.