XAUUSD: based on wkly chart to short gold.

Traders,

Lets check a weekly chart for GOLD.
Gold has finished a ABC wave up to 1365 and make a sideway movement for last 2 months with really heavy head and this is going to guide all our trades on gold in the following months.

On the left daily chart, we have a red line need to be confirmed as a resistance zone which happen to be very closed to the blue line ( now a trendline yet becoz we do not know where is the end of corrective wave 2 for gold).
If gold cant break the red line and finish with some strong bear signal on this daily chart, our plan is going to short it till it break 1300.

At the same time, we would like to check DXY as well which happen to have a broken trendline and evening star on the top. We would suggest 92.4-92.7 as a support zone for DXY for now .

Less is more!

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Consider this line is still valid to pressure price to go up .
In that case, we have a potential CYPHER to guide our targets for short trade.

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1325 is really important for GOLD.

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Plan for next few weeks for swing traders.

PLAN 1:
EN: 1325
SL:1336
TP1: 1305
TP2: 1285

PLAN2:
EN: 1301
SL: 1325
TP1: 1285
TP2: 1267

PLAN3
EN: 1365
SL: 1285
TP1: 1240

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If you use 4H chart to set up the trades, you could have smaller stop loss.

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Lucky for us, PLAN 1 hit tp1 with 200 pips.

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Did you guys entre plan 2?

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Plan 1 got all targets hit.

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Plan 2 got tp1 hit.

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Plan 3 is not start.