Im short on XAUUSD , here are the reasons:
Price action strongly rejected this level in recent time and my entry system has ticked when the lower has was made recently (and price couldnt break above my fib resistance levels).
even tough set to just 5 (perfect for my strategy, dont ask) has not reached the over bought level but the in the last few hours tell me that the sellers have control here.
Price action has been supported on the upside by that blue trendline, which is now broken.
With all of the above, im short with as always, an excellent Reward over Risk!
Good luck trading!
Oh yes, and the daily is above price.
Looking at the 4H I see good reasons for bears, but im not really sure!