LOOKING TO POTENTIALLY SHORT XAU
XAU/USD 1H - After taking a look at this market it seems as though price is distributing round this area of Supply, it will be interesting to see how price plays out over the coming hours.
With that being said, because price is consolidating within this range it makes me believe that price may be looking to take a move to the downside in order to grab more Demand.
I do believe that any short opportunities that are presented to us here will be short lived hence why I have placed the potential TP just above the higher timeframe low that was previously set in the market.
If you are someone who needs and wants additional confirmation before looking to enter in on this market you may want to see a fractal BOS take place in and around this area before looking to take the market short, we can then expect price to pullback initially before the down move.
With that being said, because price is consolidating within this range it makes me believe that price may be looking to take a move to the downside in order to grab more Demand.
I do believe that any short opportunities that are presented to us here will be short lived hence why I have placed the potential TP just above the higher timeframe low that was previously set in the market.
If you are someone who needs and wants additional confirmation before looking to enter in on this market you may want to see a fractal BOS take place in and around this area before looking to take the market short, we can then expect price to pullback initially before the down move.
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