captain_smollett
Short

XAUUSD. A weekly short

FX:XAUUSD   Gold Spot / U.S. Dollar
48 0 6
On a weekly graphic we can see that last two weeks closed in negative, although, specially the second week, was quite tight.

Still, we had a "Hanging man" figure two weeks ago and a Dojo last week. I´d therefore expect the forecoming week to close in negative as well.

I´d wait until the price climbs to the higher limit of the wedge and then short.

Sell order: 1245
SL: 1265 (just above 52w 38.2% and also year-to-date 100% Fibo)
TP1: 1220 (cross of several Fibo lines as well)
TP2: 1190 (cross of some historical Fibo lines + 61.8 year-to-date Fibo line is close + a cross with a huge channel line, broken earlier this month.

This setup doesn´t cancel the bullish flag forming just above the channel line and an overall bullish forecast which should continue in the next weeks
Trade active: Trade started at 1245
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