Most time horizon charts for-XAUUSD are very negative.
As for this chart on-XAUUSD: Plenty of NEGATIVES...
1. A five wave Elliott impulse wave structure was just completed. This had a down-ward bias.
2. The A-B-C corrective waves were negative.After wave C, the phase energy action (lower top indicator) was negative.
3. The top middle indicator is a 13 interval momentum of the phase energy, and this is failing at the zero line.
4. The top indicator is a 34 interval momentum reading of the XAUUSD-price. This is weak, heading lower. It crossed zero heading south.
5. Chop (under chart) is in the shaded area, indicating an absence of trend.
6. Chop zone (under chop) is red, indicating a downward bias.
7. The red conversion line of the Ichimoku Cloud is heading lower.
8. The black baseline line of the Ichimoku Cloud is heading lower.
9. Prices are trading below the conversion line and baseline.
10. The Ichimoku Cloud is green, but flat.
11. The-DMI (not shown) is negative.
12. Yes, we have a sell Fractal.
Conclusions:
Based on the multiple bearish technicals, I feel-XAUUSD is heading lower.
I hope all of your trades go well. Don.
As for this chart on-XAUUSD: Plenty of NEGATIVES...
1. A five wave Elliott impulse wave structure was just completed. This had a down-ward bias.
2. The A-B-C corrective waves were negative.After wave C, the phase energy action (lower top indicator) was negative.
3. The top middle indicator is a 13 interval momentum of the phase energy, and this is failing at the zero line.
4. The top indicator is a 34 interval momentum reading of the XAUUSD-price. This is weak, heading lower. It crossed zero heading south.
5. Chop (under chart) is in the shaded area, indicating an absence of trend.
6. Chop zone (under chop) is red, indicating a downward bias.
7. The red conversion line of the Ichimoku Cloud is heading lower.
8. The black baseline line of the Ichimoku Cloud is heading lower.
9. Prices are trading below the conversion line and baseline.
10. The Ichimoku Cloud is green, but flat.
11. The-DMI (not shown) is negative.
12. Yes, we have a sell Fractal.
Conclusions:
Based on the multiple bearish technicals, I feel-XAUUSD is heading lower.
I hope all of your trades go well. Don.