Gold Sell 1206.76 stop loss 1211 take profit 1178.89

Gold sell signal predicted on H4 technical analysis. Sell at 1206.76 stop loss 1211 take profit 1178.89. We did the entry point on M5 chart and main trend analysis based on Elliot Wave. The signal is confirmed by Elliot wave 5 then we did the filter in M5 chart's channel and candle stick pattern.

Here you can see the M5 chart candle stick showed up the bearish patter and price is going to breaking down the channel support line and look for the RSI (14). When price breaks the support channel we have to carefully look for the dow theory then we do definitely stop loss move into break even.