Mario_PLN

XAUUSD - intraday outlook

Short
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
Like they say, 'trade with the trend cause once it happens, never end'. Now the situation is kinda clear. Price is in strong downtrend (H4) or retrace. ADX is rising, bearish momentum is rising and PA dive deep under lower KC band. Possible range is 01 august H4 candle tick - 25 august low (272-275) and if this can't hold it then august 16 low (267). Trend is strong but I can't see this going straight to 61% fibo (263). If price will retrace from some of those ranges we can go up to the KC lower band range (285-291). Good luck.

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