Gold (XAU/USD) !! Bears are Getting Ready.

How's the Josh traders??

So Gold,
Many of them are Bullish and the shorter time frame charts are showing a bullish stance.

BUT !! My Analysis Seems Different.

On the chart in Daily time frame we can clearly se Price is taking resistance near 0.618% & 0.786% of Fibonacci levels, May be I am Wrong.... but i am considering it as Impulse wave 3(Elliot Wave theory) so if i am right then wave 5 is also pending and price may move further more downwards.

AS PER MY ANALYSIS, I AM INITIATING SHORT POSITION.

SHORT GOLD
SL : HIGH OF FIBONACCI RETRACEMENT OF 0.786%
TARGET : 2366/2109

NOTE : THIS IS FOR EDUCATIONAL PURPOSE PLEASE REFER TO YOUR FINANCIAL ADVISOR BEFORE TAKING ANY TRADE.

HAVE A GOOD DAY TRADERS.