649bruno
Short

XAUUSD Update: Weakness Prevails

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
121 2 8
This is an update for those of you who follow-XAUUSD.
There are STILL plenty of sharks in the water. From the chart action I would say the trend is down.
Most time horizon charts for-XAUUSD are very negative.
1. There has been a complete breakdown since the wedge was violated (see chart from 12 days ago).
2. Many sell Fractals (rectangles).
3. The top middle indicator is a 9 interval momentum of OHLC/4, and this has crossed the zero line down-wards.
4. The top indicator is a 34 interval momentum reading of the XAUUSD-price. This is weak, heading lower. This is a sell signal.
5. Chop (under chart) is in the UNDER THE SHADED AREA, indicating a STRONG DOWN MOVE. This is a sell signal.
6. Chop zone (under chop) is red, indicating a downward trend. This is a sell signal.
7. The red conversion line of the Ichimoku Cloud is heading lower. This is a sell signal.
8. The black baseline line of the Ichimoku Cloud is heading lower. This is a sell signal.
9. Prices are trading below the Ichimoku Cloud conversion line and baseline. This is a sell signal.
10. The Ichimoku Cloud is heading lower. This is a sell signal.
11. The Ichimoku Cloud has a red border. This is a sell signal.
12. Prices are now below a 233 interval trend-line. This is a sell signal.

13. The top lower indicator is a forward projection. For an estimation of possible FORWARD TRENDING I use the Ichimoku Cloud Senkou Span A (Leading Span A): (Conversion Line + Base Line)/2)). This is the midpoint between the Conversion Line and the Base Line. The Leading Span A forms one of the two Cloud boundaries. It is referred to as "Leading" because it is plotted 26 periods in the future and forms the faster Cloud boundary. I then make an oscillator out of this and plot the progress up and down around a “zero line”.
I HAVE THE RESULTS OF THESE CALCULATIONS FOR-XAUUSD IN THE TOP LOWER INDICATOR. IT IS VERY NEGATIVE.

Positives to report: None. There are so many negatives I believe the TREND IS DOWN.
I hope all of your trades go well. Don.
Seems you are the contrarian here, my friend. Lots of people looking for higher prices short term (of course they could all just be long and praying). I myself am on the sidelines as I can see it going either way, which basically means I'm clueless at this point. *LOL*
Reply
Thanks for your informative posts and sharing your knowledge with us. It's very educational and I have learned a lot from your posts. Keep doing the great job.
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out