Downward trend: XAUUSD Gold - Daily Chart
Downtrend may be a head and shoulders pattern
MACD seems to be about to cross-over
RSI has long way to go down
Fib levels may indicate levels of support/resistance (align well with historical price data)
Short positions should be placed with entry points below fib levels but make sure you have stop-losses to protect from unexpected bull-traps and manipulation
Stay safe and make gains
Note: 4hr chart must be watched as well
MACD seems to be about to cross-over
RSI has long way to go down
Fib levels may indicate levels of support/resistance (align well with historical price data)
Short positions should be placed with entry points below fib levels but make sure you have stop-losses to protect from unexpected bull-traps and manipulation
Stay safe and make gains
Note: 4hr chart must be watched as well
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