XAU/USD - GOLD - SELL - 06/11/2017

Gold fell down sharply on Friday and tested the support level/lower limit of the consolidation. The move was supported by large volume, so we should consider the scenario of the further fall of the price and breakdown of the support 1264.40 - 1266.00. It will be a great bearish signal, so we will be able to open short positions for gold. The breakdown movement must be abrupt and supported by large volume too, so it will be a more accurate signal for entering the market. A stop loss should be placed above the breakdown volume bar. A potential of the deal is more than 150 points.

The bottom line: short positions in the case of the breakdown of the support.