Looking at XAUUSD on the Daily, following the previous down move from the May 3 high, price has formed a descending triangle at an established horizontal support level. It has broken to the downside and old triangle support (along with horizontal support) has become new resistance. A bearish engulfing pattern confirmed a short entry and on Friday I was able to open a position on a move back up to new resistance. I'm looking to reach the 1880ish area, which would be the triangle's measured target.