XAUUSD: Short +400 pips
Last week, price accumulated significant liquidity below the 2470 level before reversing to the upside. After sweeping minor liquidity at 2523, a key supply zone has emerged at 2504. Notably, the equilibrium aligns with this supply zone, presenting a potentially strong area for a short position. If a valid short confirmation forms at the 2504 level, we could anticipate a bearish move back towards the 2470 liquidity levels.
Note
- Price reached supply area at 2505, now we can wait for a confirmation to short.Trade active
- Price made a change of character on the lower time frame 5m at higher time frame supply zone.
- Now we have a confirmation to short.
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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.