#XAUUSD Technical Analysis – June 17GoldOANDA:XAUUSDcuoipham1209Gold is currently approaching the descending channel trendline on the H1 timeframe. The D1 gap from Monday still hasn't been retested. From a technical perspective, this isn't the kind of strong gap that can be ignored without a retest. On M15, price has almost completed a full 5-wave Elliott impulse structure. More specifically, Wave 5 of Wave 5 is already in play. In a bullish extension scenario, price could finish the entire structure right at the trendline while printing bearish divergence. Tonight's FOMC is also widely expected to keep rates unchanged. Right now, the odds seem to favor the bears heading into tonight's session. That's why I'm taking a SELL position with 1% account risk and targeting a 1:20 RR. 🔴🔴 SELL #XAUUSD 🔴🔴 ✅ Entry: 4370 🎯 TP: 4290 - 4240 - 4200 - 4156 🛑 SL: 4280 Let's see if the bears show up tonight. 👀