Gold macro trend is short.

 Hello? Today, let's look at why I'm keeping a close eye on gold short positions and break it down clearly from a higher timeframe perspective.
I usually prefer focusing on bigger timeframes rather than messy lower-tf scalping. So, I've firmly concluded that the gold trend is short, and I plan to look for short entries every time it bounces up. I'll lay out my reasons for betting on a short based on the 20-period moving average. Charts don't need to be complicated—just watching a single moving average properly gives you all the answers.
Shall we start with the daily chart? See how it had a clean retest of the 20 MA and then dropped straight down? It's way too early to call the drop over, considering it hasn't even retraced half of that massive previous bear candle. That just shows the momentum is completely gone.

Next up is the 3-day chart. Here too, the candles have completely dipped below the 20 MA, and even the 120 MA—which used to hold strong support—is getting pierced back and forth in a really messy chop. That's a huge sign that a downward breakdown is much more likely.

Lastly, the weekly chart. As expected, it's hanging well below the weekly 20 MA. Unless it stages a massive pump and closes the week as a giant bullish engulfing candle, the RSI angle is still pointing relentlessly downward. The conclusion is simple: until candles firmly reclaim and consolidate above the weekly 20 MA, my mindset is strictly short.

Most importantly, there's a strong chance this isn't just a weekly trend, but a monthly trend. Keep a close eye on the monthly Stochastic and RSI.

With the direction cleanly locked in to the downside, my plan is to measure the Fibonacci retracement levels on any pullback and nail the entry. What do you guys think about this chart action? Are you looking for shorts like me, or are you hunting for long setups instead?