Short

XAU/USD - Possible descending triangle formation

Updated

If this is truly a descending triangle, we should a big move lower to 1800 or lower before making another leg up
Look at fibo of E wave, now price are under the .618 level, so it is very likely that E wave is completed
Let's see if we can break 1900 to confirm this pattern

Trade closed manually

I closed all my short position.
I dont think stronger dollar coincides with my view on other equities.
I will look to go long if gold go down to 1800-ish
Either way. I dont think i will go short unless im absolutely sure

Note

I opened short @ 1950 with stop above 1957

Trade active

Now we only need to clear 1938
And then we will revisit 1900 again

Note

very likely

UNRPP

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