Gold looking very toppy right now as the USD continues its tear to the upside.Since Jun 6th, Gold has formed 3 separate shooting star reversals at the highs of the range (1550-1560). Each of those peaks have been confirmed with a lower and lower MACD value each time (see downsloping white line on MACD).
Couple a triple top, with strong MACD divergence, and thrown in that it is at the top portion of the channel it is in (light blue), and gold smells like a good risk reward for a sell here.
I sell here (1550) with a stop of 1565 and a target of 1505 (45:15 aka 3:1 reward:risk)
EDIT Stopped out
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