XAU/USD | Gold Sharp Sell-Off After ATH, Liquidity Void in Play!

By analyzing the #Gold chart on the 4H timeframe, we can see that after our last analysis, price rallied to $4550 and delivered over 700 more pips of profit. After that strong move, gold entered a very aggressive correction. In less than 16 hours, price dropped from $4550 to $4300, which means a $250 or 2500 pips heavy sell-off.

Right now, gold is trading around $4329. This sharp drop has created a very large liquidity void, and I expect this gap to be filled in the short term with a bullish rebound. The expected short-term upside is around 300 to 800 pips, while the medium-term potential could reach 1500 to 2500 pips.
The key medium-term demand zone to watch is $4210 to $4269.This analysis will be updated.

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Best Regards , Arman Shaban

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By analyzing the #Gold chart on the 4H timeframe, we can see that right after our last analysis, selling pressure faded and price started to move higher, exactly as expected. Gold delivered over 1000 pips and hit its short-term target. After reaching $4404, price faced selling pressure again and is now trading around $4389.

The main bias is still bullish, and I expect further upside overall. However, there are several important supply levels ahead, and each time price reaches these areas, a short-term pullback is likely. These zones can offer good SELL opportunities for day traders and scalpers.

Key supply levels to watch are $4425, $4455, $4476, and $4497.

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