TheSignalyst

GOLD waiting for the sell setup to form

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
on WEEKLY: GOLD is sitting around a supply zone in green so we will be looking for objective sell setups on lower timeframes.

on M30: GOLD is forming a channel in red, but our lower red trendline is not valid yet, so we are waiting for a third swing to form around it to consider it valid and enter on its break downward.

We also have a regular bearish divergence adding more confluence to our sell setup.

This analysis is done using RichTL
www.RichTL.com

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