XAU/USD 10 technical reasons for sale.
Why it is worth considering only short -
1. A bearish wedge on daily chart
2. confirmed by HUGE triple divergence
3. very strong overbought
4. all fibonacci levels are traded
5. closing of the week
6. closing of the month.
7. yesterday we saw classic bull trap with pennant breaking
8. reaching the golden ratio of the 7-year-old movement
9. from the 1270 mark there was not a single normal correction
10. after a pump, there should always be a dump
Therefore, from the reasonable, I see only two options - Short or just stay out of the market.
Ps. So this is my last idea considering short till the price really drops,Will see you below on the chart.
1. A bearish wedge on daily chart
2. confirmed by HUGE triple divergence
3. very strong overbought
4. all fibonacci levels are traded
5. closing of the week
6. closing of the month.
7. yesterday we saw classic bull trap with pennant breaking
8. reaching the golden ratio of the 7-year-old movement
9. from the 1270 mark there was not a single normal correction
10. after a pump, there should always be a dump
Therefore, from the reasonable, I see only two options - Short or just stay out of the market.
Ps. So this is my last idea considering short till the price really drops,Will see you below on the chart.
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