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Short

XAUSUD - downtrend, is it a throwback ??

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold after a string move on Daily charts has pushed into a downward channel .

OANDA:XAUUSD should find support around 1435 to 1448 levels.

Since the daily charts are in the downtrend, any trades intraday on 4 hour charts on the short side will be trend following.

CAUTION : Wait for the price to reach the upper points of the resistance line and wait for rejection of price at that line for confirmation of downtrend and then go short!

Weekly charts are not providing any direction, hence I will avoid any overnight open positions on this pair till a trend emerges

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