FX:XAUUSD   Gold Spot / U.S. Dollar
Following general LH/LL structure, Monthly --> Daily are all bearish structure. 2hr and 4hr consolidated for some time so there are large sell orders generated and can bring in volume. Huge emphasis on the fundamentals; currently, there is investor optimism sentiment regarding the vaccine production (more and more companies producing vaccines and filing for EUA - J&J - also Moderna is starting a human study for booster shot), mass vaccination, and economic recovery (Biden's $1.9T economic relief package, UK Chancellor Sunak's economic relief package talks in March, and labor markets starting to strengthen a bit as lockdowns are gradually being lifted).
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.