Gold- Sell rallies is my strategy

Gold had a bad week so far, with the price diving more than 500 pips in just 2 days.
This drop was stopped by the long-term support that lies around 1770 and at the time of writing XauUsd is trading at 1780.
At this point, a rebound is not out of the question but, in my opinion, buying Gold at this point is too risky.
What I would like to do instead is sell rallies towards 1800 as I expect the drop to continue.
The chart structure is strongly bearish under 1820 and only a daily close above this zone would change my opinion

Yorum:

Gold could accelerate losses at this point.
In my opinion 1765 support will not hold and Gold could drop towards 1700 if not under.
I will make a longer term analysis tomorrow