High Probability Short Position - XAU/USD
The price is clearly approaching a HTF High, which is potentially a strong high.
Now, given that the 4-hour timeframe is bullish and the lower timeframe (i.e. 15 minutes) is bearish, we can expect the 4-hour timeframe to be forming a swing pullback.
The extreme range considered on the 15-minute timeframe is a strong POI ( point of interest ) to sell to go along with this 4-hour structure pullback.
Of course, we should definitely manage our expectations from this sale because we know that this is a counter-trend 4-hour position.
Although it is considered trend-aligned on the 15-minute timeframe!
Keep in mind that if the price does not reach the upper zone, we can have a buy setup if confirmed by the Unmitigated 4H Zone, which I will investigate in more detail in future posts.
Regards ❤️
Now, given that the 4-hour timeframe is bullish and the lower timeframe (i.e. 15 minutes) is bearish, we can expect the 4-hour timeframe to be forming a swing pullback.
The extreme range considered on the 15-minute timeframe is a strong POI ( point of interest ) to sell to go along with this 4-hour structure pullback.
Of course, we should definitely manage our expectations from this sale because we know that this is a counter-trend 4-hour position.
Although it is considered trend-aligned on the 15-minute timeframe!
Keep in mind that if the price does not reach the upper zone, we can have a buy setup if confirmed by the Unmitigated 4H Zone, which I will investigate in more detail in future posts.
Regards ❤️
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.