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DeGRAM | GOLD in consolidation. Short

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold is trading in a narrow range of 1795 - 1764, the trend is downtrend, they cannot buy back the instrument from the levels, perhaps there is selling pressure in the market.
I assume that after testing the upper border of the channel, gold will go down and continue the downtrend.
Target - support 1725

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Comments

Well I guess it is correlating with dollar index, Im short from 1780 arrears, so fingers crossed. As now I see leading diagonal 1h chart, Elliot wave which started from last HL, which finished its cycle. hopping for nice through out to atleast 1760.
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