XAU WEEKLY UPDATE 8/23

8/23 XAU ON THE WEEKLY IS
IN THE SELL ZONE AND HAS HIT
THE .382 HOWEVER, ON THE DAILY
A CTL HAS BEEN BROKEN TO THE UPSIDE
THERE IS NO TIMEFRAME ALIGNMENT
AT THIS POINT BUT THE MARKET IS
STILL ABOVE THE UP TREND LINE
ON THE DAILY I WOULD STAY OUT OF
THIS MARKET BECAUSE THERE IS A VERY
LIKELY OUTCOME THAT THE MARKET COULD
JUST START TO CONSOLIDATE POS 53%

DIRECTION
SHORT TERM BUY
ENTRY (NO)