XAUUSD potential intraday shorts lining up - on the 4H (left) we can identify price has provided us with a nice retracement in a overall bearish trend which is currently testing the 0.618 golden ratio. We can also identify on the 4H TF price has a level of liquidity imbalance at 1680 in which the market will be attracted into this area. Just above this liquidity zone the price formed beautiful Equal lows which as we know below them will be the stops of buyers. On the right we can identify today how the market broke above the Asia session range taking out the stops of sellers and coming all the way into the high of the week at the psychological level of 1725 this is a strong zone for GOLD - always hard to fight the trend so I have a bearish sentiment here. For entry confirmations I would like to see a strong close back below the 4h zone (purple line) back below the Asian session high then I will consider looking for entries on the retest if I see correct confirmations on the LTF.
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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.