Gold has created an aggressive downtrend on the 4 hourly time frame and has retraced back to the 61.8% Fibonacci where it seems to be holding around resistance within the supply zone. There seems to be an evening star formation appearing and should the 4 hourly time frame confirm this, I will be looking to sell with a take profit at 1199.00 and stop loss at 1263.92,
Should the move down be confirmed we do have the possibility of Gold dropping by another 300 pips past our take profit
