Short GOLD 1H

2020年5月22日

XAUUSD has been riding the bullish wave for quite some time and therefore I will not yet recommend going short for the long term. This is a short term setup and here are my reasons.

Volume : Falling Volume when price tests the resistance trendline indicates that bulls is not giving the necessary power to breakout.
Triangle : The Triangle that is forming is pointing downwards and therefore the bears is starting to steer price in their direction.
RSI : The RSI has a downwards slope that indicates closing prices is going lower.

SL : 1745.00
TP : 1710.00

This is a short term setup