GOLD/ XAUUSD SELL

🔰 Pair Name : XAU/USD
🔰 Time Frame : 4H
🔰 Scale Type : MID Scale
🔰 Direction : SELL

On the last trading session, gold experienced a significant break of a major uptrend line. As per our analysis, we anticipate that gold will undergo a retest of the aforementioned trend line within the buying liquidity range of $1972-$1973 area. Subsequently, we expect a downward movement towards the last selling liquidity zone around $1946 area, aiming to fill the existing imbalance.

Keeping an eye on these price levels presents a potentially lucrative trading opportunity for the start of the week. Don't overlook this straightforward Monday trade as it unfolds before us. Stay vigilant and seize the chance to capitalize on these market dynamics. Happy trading!

İşlem aktif

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Gold is dropping down now

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Gold solidly broke the daily supply zone above. The price might retest the supply zone area before further dropping down.

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consider the fib level 0.382 below, there is a chance price retest fib level 0.236 at 1967 -1972.5 area, before further sell down

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🚨📚🗞🌝Fed Interest Rate Decision Ahead- What To Expect Today:

Overall, we have a mix of ups and downs data from July. Weaker economic data, such as declining retail sales and lower industrial production, may lead to a weaker economy, which could help keep inflation under control. On the other hand, stronger economic data, like higher consumer confidence and positive manufacturing PMI, may support a stronger economy expansion, potentially leading to further inflation. 💹📈📉

Many traders are convinced that the Federal Reserve will hike interest rates again to get inflation closer to the Fed's 2% target. However, continuously raising interest rates to lower inflation could risk causing a recession. If the Fed raises rates too high, it may result in businesses and consumers cutting back significantly on spending, leading to massive layoffs. 😟📈📉

This scenario is reminiscent of what happened in 2006 when the Fed raised interest rates 17 consecutive times between June 2004 and June 2006. Fed officials then became concerned that further rate hikes could inadvertently harm the economy. 📈💼📉

It's a confusing area to navigate as a trader 😄. We cannot predict the Fed's decision, so the best approach is to follow the trend, set proper risk management, pre-run market scenarios, and use reasonable stop-loss strategies to mitigate risks. 📊💡🛡

İşlem aktif

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Watch out this trade.
Retest is finally done.
Big time is coming!

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If a 1-hour candle closes with a long upside wick and the candle body is within the supply zone, it could potentially indicate a liquidity trap for more downside movement.

🕯 A long upside wick represents a significant upward price rejection during the hour, showing that buyers attempted to push the price higher but failed to sustain the momentum.

📈 The candle body being within the supply zone suggests that sellers were active and were able to push the price back down from the higher levels.

📉 This combination of a rejected upward move and active selling within the supply zone creates a potential liquidity trap, as traders who placed long positions might now be stuck and looking to exit at breakeven or with minimal profit.

📉💼 If more traders start to exit their long positions, it could lead to increased selling pressure, potentially pushing the price further down, creating a downside movement.

📉🚨 Traders should be cautious and consider this liquidity trap scenario when analyzing the market and managing their positions to avoid potential losses in such situations.

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Moon_SmartMoney

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