GOld is plateauing.. poised for correction

It has been more than a month that price action remains capped. No buyers are interested in this pricing. I was expecting a quick dip so that there is a recovery by early next week.

Looks like gold will go down slowly around ~1600 area before buyers are back. I have one short swing position right now. SL around 1735. I am targeting low 1600 area. This need patience. I will be monitoring candle PA on daily basis.

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Let it sinked in....

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I still bearish on Gold. XAUEUR, XAUGBP, XAUSGD daily setup are all bearish.

Setup as follows:

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Hangman in the making..