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SunLion506

Chart Shorting Possible retrace on 50 EMA on 1 hour Chart

Short
Gold Spot / U.S. Dollar (OANDA:XAUUSD)  
SunLion506 Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis
2
0
trendanalysis
Short trend might end up retracing on the 50 EMA on the 1 hour chart , possibly making a head and shoulders if it does bounce of the 50 EMA. Confirmation after passing 50 EMA will increase possibility that chart might end up reaching the 200 EMA on the 1 hour chart.
Comment:
Chart has reached near 50 EMA on the 1 Hour chart. Chart may bounce of the 50 EMA for retraement possibly forming a head and shoulders. If the chart passes the 50 EMA it will then possibly continue to the 200 EMA on the 1 Hour chart.
Comment:
Chart has now reached the 50 EMA. Standing by for either bounce for retracement and continuation or continuation to the 200 EMA on 1 hour chart.
Comment:
Chart has passed 50 EMA now increasing the probability of chart headed down to the 200 EMA.. Still Shorting.
Comment:
Retracement to possible head and shoulder pattern has begun.
Comment:
Chart seems to be headed to the 200 EMA on the 1 hour Chart.
Comment:
Closed Short position since chart is near 200 EMA on 1 hour chart.
Comment:
Chart has reached the 200 EMA on 1 hour chart.
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