There are plenty of sharks in the water. From the chart action I would say the trend is down.
Most time horizon charts for-XAUUSD are very negative.
1. There has been a complete breakdown since the was violated (see chart from six days ago).
2. Many sell Fractals.
3. The top middle indicator is a 9 interval momentum of OHLC/4, and this has crossed the zero line down-wards.
4. The top indicator is a 34 interval momentum reading of the XAUUSD-price. This is weak, heading lower.
5. Chop (under chart) is in the UNDER THE SHADED AREA, indicating a NEW AND STRONG DOWN MOVE.
6. Chop zone (under chop) is red, indicating a downward trend.
7. The red conversion line of the is heading lower.
8. The black baseline line of the is heading lower.
9. Prices are trading below the conversion line and baseline.
10. The is heading lower.
11. The has a red border.
12. Prices are now below a 233 interval trend-line.
13. The top lower indicator is a forward projection. For an estimation of possible FORWARD TRENDING I use the Senkou Span A (Leading Span A): (Conversion Line + Base Line)/2)). This is the midpoint between the Conversion Line and the Base Line. The Leading Span A forms one of the two Cloud boundaries. It is referred to as "Leading" because it is plotted 26 periods in the future and forms the faster Cloud boundary. I then make an oscillator out of this and plot the progress up and down around a “zero line”.
I HAVE THE RESULTS OF THESE CALCULATIONS FOR-XAUUSD IN THE TOP LOWER INDICATOR. IT IS VERY NEGATIVE.
Positives to report: None. There are so many negatives I believe the TREND IS DOWN.
I hope all of your trades go well.