RoboCash

GOld is plateauing.. poised for correction

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
It has been more than a month that price action remains capped. No buyers are interested in this pricing. I was expecting a quick dip so that there is a recovery by early next week.

Looks like gold will go down slowly around ~1600 area before buyers are back. I have one short swing position right now. SL around 1735. I am targeting low 1600 area. This need patience. I will be monitoring candle PA on daily basis.
Comment: Let it sinked in....
Comment:
Comment: I still bearish on Gold. XAUEUR, XAUGBP, XAUSGD daily setup are all bearish.

Setup as follows:

Comment:
Comment: Hangman in the making..

Comments

Daily XAUEUR, XAUGBP, XAUAUD, XAUSGD setup are bearish. This is something to keep in mind.
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