OANDA:XAUUSD has been riding the bullish wave for quite some time and therefore I will not yet recommend going short for the long term. This is a short term setup and here are my reasons.
Volume : Falling Volume when price tests the resistance trendline indicates that bulls is not giving the necessary power to breakout. Triangle : The Triangle that is forming is pointing downwards and therefore the bears is starting to steer price in their direction. RSI : The RSI has a downwards slope that indicates closing prices is going lower.