649bruno
Short

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

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
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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.

Bruno,
Can we predict Gold movement with Ichimoku or Doji chart ?
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