GC (XAU) 1H Supply Short IdeaThis is a solid short setup. The fundamentals are strong, retailers are on the other side of the trade, and seasonality is in our favor. It's also overvalued compared to some other assets.
The main concern is the current sentiment-driven economic environment, where a single news headline can shift the entire market cycle.
Additionally, there are a few supply zones above our entry level, which pose some risk. However, the nearest 4H supply zone has already absorbed a significant number of orders, which reduces its strength. This makes it reasonable to take the trade now rather than waiting for price to reach that zone.
