Trade Idea: Gold Building Momentum For More Down Movement

Trade Idea:

GOLD - Short

SL – 1250
TP 1 – 1228 (Currently reached)
TP 2 - 1206 (confluence of 50% fib. level & Support trendline)

Trend Analysis:

Price action trending MA and break below 4hrs time. Currently hovering around the projected TP @ 1228 (75% tendline).

On the daily timeframe, the precious metal currently trades within a symmetric triangle and at the 61.8% Fibonacci level. 

A break below $1225 per ounce would trigger a steep short towards 1198