XAUUSD: Daily Chart In Down-Trend: Mirrors GDX Action

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
33 1 7
Here are ONE DOZEN negatives I see in-XAUUSD, and why I feel-Gold is a sell:
1. Sell Fractal in effect (red rectangle on chart).
2. Alligator jaws CLOSED in tandem with sell Fractal . Alligator NOT feeding. NO TREND YET, BUT DOWN BIAS.
3. Chop indicator (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 bearish .
5. Momentum (middle top indicator) is the 5/34 measure, and this is bearish action and is heading lower. Histogram within is also under zero line.
6. Prices are trading INSIDE the Ichimoku Cloud .
8. Prices are trading below the Ki jun-Sen baseline of the Ichimoku Cloud . This is a sell signal.
9. Prices are trading below the thick red Ichimoku Cloud conversion line. This is a sell signal.
9. The red Ichimoku Cloud conversion line direction is heading lower. This is a sell signal.
10. The Ki jun-Sen baseline of the Ichimoku Cloud direction is heading lower. This is a sell signal.
11. The CHOP ZONE indicator (under chart) is red, indicating a down trend.
12. RSI/ Stochastic (top) is heading lower after a bearish cross.
My comments: very bearish signs. The sell signals are only moderately strong because CHOP is NOT BELOW the shaded area.
Decision: do not go long-XAUUSD. Good luck to you. Don.

Can we predict Gold movement with Ichimoku or Doji chart ?
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out