XAUUSD (Short)
We might have a possible short on gold due to the Ascending channel (1-2-3 structure) which is clearly visible on the daily timeframe. And on the 3rd touch there's what we call a pattern within pattern (in this scenario it's a reversal within reversal) which is also a clear 1 hour structure (1-2-3 structure).
However, due to the fact that price is above ATH...i would consider taking the sell after we get a clear daily retrace to mitigate the risk of being taggèd in and out of the trade.
We might have a possible short on gold due to the Ascending channel (1-2-3 structure) which is clearly visible on the daily timeframe. And on the 3rd touch there's what we call a pattern within pattern (in this scenario it's a reversal within reversal) which is also a clear 1 hour structure (1-2-3 structure).
However, due to the fact that price is above ATH...i would consider taking the sell after we get a clear daily retrace to mitigate the risk of being taggèd in and out of the trade.