Below is a trade plan of the XAUUSD looking at the start of a long downtrend.
(1)Support and Resistance (1.1) Price Action Resistance @1240.67 coming off R1 (1.2) Support is at 1232.66 (2) Market (2.1) 21/55 with an angel of separation close to 0 with no distinct trend. (3) Price (3.1) Stochastics are currently just under overbought 5/8 has a slight switch and currently widening due to other time frames coming off overbought.
(1) Support and Resistance (1.1) Price Action Resistance is currently at previous Monthly M3 1239.27 and that is where I'm looking at entering (2) Market (2.1) Markets are currently side ways and 21/55 cross will take place once markets come off Resistance. (3) Price (3.1) Stochastic are currently just moving above the 80 line which indicates overbought. 8/12 cross will happen when price comes off resistance.