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forexwithfred

XAU/USD - Short term Sell Off

Short
Gold Spot / U.S. Dollar (OANDA:XAUUSD)  
forexwithfred  
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Chart Patterns Harmonic Patterns XAUUSD xauusdidea xauusdshort Gold reversalpattern Descending Triangle Bearish Patterns
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trendanalysis chartpattern harmonicpatterns xauusd xauusdidea xauusdshort gold reversalpattern descendingtriangle bearish
  • 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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