Trade Idea for Gold vs US Dollar (XAUUSD)

Gold vs US Dollar

#XAUUSD

The trend is downward. Gold is trading within the range of the 365 and 135 EMAs. The upward wave structure is truncated. The Awesome Oscillator shows bearish divergence, while the Stochastic Oscillator signals overbought conditions.

Trading idea:

Sell on the formation of a downward wave structure, where wave (A) breaks through the ascending channel of the truncated upward structure.

Stop Loss – above the local high of the upward structure (4620.0).

Target levels – 4350.0; 4200.0.