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20 REASON FOR SELL GOLD for OANDA:XAUUSD by Optimum369

šŸ¤‘TOP DOWN ANALYSIS OVERVIEWšŸ¤‘
biggest time frame yearly base on yearly gold is in a bull trend but current in a corrective phase
šŸ§Eagle eye: bull
Monthly: higher low /lower low formatted bear trend current candle is a retracement candle and also filled out discounted area of monthly time frame
weekly: extremely bearish in weekly now in a corrective phase and also fill out extream Imbalance area or FVG gap take a resistance here and also formed and key reversal weekly candle bear trigger event also occurred everything favour of bear right now even no volume on the weekly chart

1 Structure analysis time frame: h4

2 target time frame: h4

3 Current Move: impulse for h1

4 Entry Time Frame: h1

4.1 Entry TF Structure: bear

4.2 entry move: wait until 1752 and wait for some bearish signals

5 Support resistance base: weekly order block resistance and FVG resistance

6 FIB: trigger event Ok

7 candle Pattern: momentum Engulfing bull

8 Chart Pattern: higher low 1752, reversal start

9 Volume: no volume Compare to the whole move

10 Momentum UNCONVENTIONAL Rsi: Range shift for sideways

11 Volatility measure Bollinger bands: Squeez break out /head-fake/walking band 3 signals

13 Sentiment ROC: weaker than USD

14 final comment: sell right now

15 : decision: sell

16 Entry: 1752

17 Stop losel: 1758

18 Take profit: 1730

19 Risk to reward Ratio:1:6

Excepted Duration: 2 days

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