eva2016

XAUUSD Outlook for August 21st, 2016 week

FX:XAUUSD   Gold / U.S. Dollar
64 1 4
Weekly chart shows bearish engulfing and MACD divergence indicating pullback which already started.
Price is ranging for weeks however if H4 candle closes below 1332             and new H4 candle opens below that level, then I will Short until 1312             .
If it breaks 1312             it will drop to 1294 and 1266 before it continues upward move to 1400+

If price pulls back and H4 candle closes above 1334, then i will Long until 1352, and 1389
Comment: moved test so it is visible
Comment: Nice run
I am getting off at 1351
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