Still Favouring Gold Shorts XAU/USD (Need more confirmation)
After seeing the counter trendline being broke but quickly seeing a huge spike to the upside to test 1300.000 region we can see from the fibonacci retracement tool that the downtrend is still favoured and a fib is still in play. In the bigger picture we are still making lower highs. I need price to break this counter trendline with good price action to consider a trade entry. I would also be cautious around the 1280.000 area as price has reacted and respected this daily area of support recently. Wait for confirmation before taking an entry this is no trade as of yet.
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