Xauusd (GOLD): I am thinking to short positions

8 jam lalu

hello guys!
let's analyze GOLD

Liquidity Hunted:
The chart highlights a liquidity grab near the recent high (marked as hunted), where the price spiked above resistance before reversing sharply.

Downtrend Movement:
Gold has shown strong bearish momentum, breaking below a rising trendline and key support levels.
A continuation toward the gray demand zone around $2,585–$2,595 is likely.

Key Demand Zone:
The gray highlighted area is the next potential support, where buyers may step in to halt the decline.

Scenarios:
Scenario 1: If the price respects the demand zone, a short-term bullish rebound towards $2,620–$2,630 can occur.
Scenario 2: Failure to hold the demand zone could push Gold further down toward the blue support area near $2,539–$2,535.

Conclusion:
Gold is currently bearish, with a strong possibility of reaching the demand zone at $2,585–$2,595. Traders should monitor this level for signs of a reversal or continuation, with $2,539 as the next downside target if support fails.