This pair fell to an interesting place. It retraced 78.6% and at the moment price seat on trend line.

gold-d

 

If we move down to 4h chart, we can see that there was already fakey setup printed. Now we have second chance entry to enter long.

gold-4h

Fakey setup consist of at least 3 bars, mother bar, inside bar and a fakey bar. This time we got 3x inside bars and then fakey bar.

On the other side, there is always chance, that trade will not work, so that trend line will be broken, perhaps retested from bellow and then price will head down to 1100 level or even lower.

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