XAUUSD Short Trade Idea – 4H Chart
Price has made a strong move up, but it's now entering an area where sellers were in control before.
Why I'm looking to short:
Price is retesting a supply zone where the last big drop started
It’s also near a resistance level and rejected from there
The downtrend is still valid with lower highs
There's a good chance price could drop to grab liquidity below
*** Target areas:
First target: around 3288
Final target: around 3250, where we have a demand zone
*** Invalidation:
If price breaks and closes above 3385, this short idea is no longer valid.
Price has made a strong move up, but it's now entering an area where sellers were in control before.
Why I'm looking to short:
Price is retesting a supply zone where the last big drop started
It’s also near a resistance level and rejected from there
The downtrend is still valid with lower highs
There's a good chance price could drop to grab liquidity below
*** Target areas:
First target: around 3288
Final target: around 3250, where we have a demand zone
*** Invalidation:
If price breaks and closes above 3385, this short idea is no longer valid.
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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.