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MortyM

Potential short term reversal on Gold. 1920 Short opportunity

Gold Spot / U.S. Dollar (FX:XAUUSD)  
MortyM Updated   
FX:XAUUSD   Gold Spot / U.S. Dollar
Beyond Technical Analysis
5
0
beyondta
Gold has been in a downtrend ever since hitting ATH. We are currently in a discount area and I could see Gold reversing from here to sweep buyside liquidity with Low Resistance Liquidity Run resting above us. 1920 is a good high probability area to enter a short position IMO
Comment:
As mentioned yesterday, Gold was ready to bounce off a HTF discount area as well as sweep buyside liquidity.
Comment:
So far it's playing out how expected last week. Gold swept Buyside Liquidity, we ould see a small retracement targeting imbalance created during Asia and London Session before seeing lower prices. Preferably I'd like to see Gold sweeping previouys weeks low and have another leg down before we could have a change in market structure.
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