Short

XAUUSD Channel Down on (1h). Sell.

Gold has converted the formerly strong Support, MA50 (1h), to a Resistance and a Channel Down has emerged.
Today it priced first the Lower Low and now the Lower High.

Trading Plan:
1. Sell on the current market price.
2. Buy if the price crosses over Resistance (1).

Targets:
1. 1950 (Lower Low on a -1.39% decline, like the previous sell leg).
2. 1997.30 (Resistance 2).

Tips:
1. The RSI (1h) is reversing right where the Resistance that priced the previous Lower High was. An additional bearish signal.
2. 1950 is on the path of the MA200 (1h). An important support test for the long term.

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Notes:
Past trading plan:

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