Gold - undecision with short term bearish bias
Weekly:
- Ichimoku setup is still bearish. Last week Price retested Kijun Sen
- This week the candle may give a bearish signal again if can not print a higher high compared to last week's candle and if haDelta/SMA3 dips back below zero line.
Daily:
- Ichimoku setup is neutral, with serious headwinds ahead in form of a thick Kumo.
- Heikin Ashi signals undecision, second candle print with both upper and lower wicks.
- Lower support levels are: 1193 / 1183 / 1152
4H:
- Ichimoku setup is turning to bearish again. Price attempts a bearish Kumo break after retested Kijun Sen last Friday. Chikou Span is also below Price (still above past Kumo), Tenkan/Kijun cross is weak bearish too. Bearish acceleration is expected below 1193. That break would validate the bearish Kumo breakout strategy as well.
- Heikin Ashi setup is clearly bearish short term.
Strategy is to go short in two units: first at current level with stop above 1211, the second unit at/below 1193. After secons unit sell trail your stop loss. Target is 1160-1165
- Ichimoku setup is still bearish. Last week Price retested Kijun Sen
- This week the candle may give a bearish signal again if can not print a higher high compared to last week's candle and if haDelta/SMA3 dips back below zero line.
Daily:
- Ichimoku setup is neutral, with serious headwinds ahead in form of a thick Kumo.
- Heikin Ashi signals undecision, second candle print with both upper and lower wicks.
- Lower support levels are: 1193 / 1183 / 1152
4H:
- Ichimoku setup is turning to bearish again. Price attempts a bearish Kumo break after retested Kijun Sen last Friday. Chikou Span is also below Price (still above past Kumo), Tenkan/Kijun cross is weak bearish too. Bearish acceleration is expected below 1193. That break would validate the bearish Kumo breakout strategy as well.
- Heikin Ashi setup is clearly bearish short term.
Strategy is to go short in two units: first at current level with stop above 1211, the second unit at/below 1193. After secons unit sell trail your stop loss. Target is 1160-1165