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chiefcapitalfx

xau/usd short set up

Short
Gold Spot / U.S. Dollar (OANDA:XAUUSD)  
chiefcapitalfx  
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Chart Patterns 30ma retracement Descending Channel short XAUUSD 4hr 1hr
2
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trendanalysis chartpattern 30ma retracement descendingchannel short xauusd 4hr 1hr
Looking at gold it seems to be following a downward channel. Fib was used and it showed a 0.7 retracement from the current lower high.

30 ma also shows a cross over in the 4hr and below timeframe so this is another indication that sellers are in control.
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