Here are ONE DOZEN negatives I see in-XAUUSD, and why I feel-Gold is a sell:
1. Sell Fractals in effect (red on chart).
2. jaws OPEN in tandem with sell . Alligator FEEDING IN DOWN-TREND.
3. (under chart) is above the 38.2 shaded area. This indicates a ZERO trend and, at best, sloppy action with a downward bias.
4. Phase energy (lower top indicator) is heading LOWER. The action is below the zero line. Decidedly .
5. Momentum (middle top indicator) is the 5/34 measure, and this is action and is heading lower. Histogram within is also under zero line.
6. Prices are trading BELOW the .
8. Prices are trading below the Ki jun-Sen baseline of the . This is a sell signal.
9. Prices are trading below the thick red conversion line. This is a sell signal.
9. The red conversion line direction is heading lower. This is a sell signal.
10. The Ki jun-Sen baseline of the direction is heading lower. This is a sell signal.
11. The CHOP ZONE indicator (under chart) is red, indicating a down trend.
12. RSI/ (top) is heading lower after a cross.
My comments: very signs. The sell signals are only moderately strong because CHOP is NOT BELOW the shaded area.
More than the daily chartdaily chart. IF THERE IS A TECHNICAL REBOUND, there must be TREND or price action will just .
Decision: do not go long-XAUUSD. The path of least resistance is likely to be lower. Good luck to you. Don.