Price has pulled back into the declining trend line (on both the weekly and daily chart) where today's bearish engulfing bar is looking to close below the 100 ema. Encountering resistance in the 1170 - 1180 area, price could ricochet off this rejection zone giving short continuation entry on Gold (XAU/USD).
entry - below today's engulfing bar
stop loss - above today's engulfing bar
target - previous low or lower
entry - below today's engulfing bar
stop loss - above today's engulfing bar
target - previous low or lower