forexwithfred
Short

XAU/USD - Short term Sell Off

OANDA:XAUUSD   Gold Spot / U.S. Dollar
  • Price has respected the trendline for the third time, validating the trendline is in play with price action

  • My bias overall for Gold is bullish although there is an opportunity to profit off this current corrective wave

  • DXY Dollar Index is gaining strength, indicating Gold's weakness for this week

  • 2 different Scenarios of how price may trade within the descending triangle

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