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aiza_belle

XAUUSD Short

Short
Gold Spot / U.S. Dollar (OANDA:XAUUSD)  
aiza_belle Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Chart Patterns Beyond Technical Analysis XAUUSD XAU USD Gold Stocks Bearish Patterns SELL short
3
0
trendanalysis chartpattern beyondta xauusd xau usd gold stocks bearish sell short
If the stock market slump continues, this pair will more likely go down further especially it has started to form a head and shoulders pattern in the daily chart. Setting up sell stop order @1316 with TP @1300 and SL near latest daily high @1325. Must be careful though because this pair is sensitive to US Fed news, and looking at the weekly chart, there's still a possibility that it will breakout on the upside instead.

www.dailyfx.com...Correction.html?DFXfeeds=f...

www.dailyfx.com...till-Weigh.html?DFXfeeds=f...

Daily
snapshot


Weekly
snapshot


Confidence: B (a bit risky, monitor closely; depends on any news about market tightening esp US Fed Rate Hike, which affects both stocks and gold)
Trade closed manually:
Manually closed to lock in some gains for the week. Will most likely resume bearish position next week.
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