XAUUSD The reason for taking a short trade on Gold is that price has entered the OTE zone. Since Gold is currently in a downtrend, the probability of a sell-side liquidity sweep remains high.
I entered my initial position at Equilibrium. If Gold retraces deeper into the OTE range, around the 0.62 or 0.705 levels, I may consider adding to the position based on price action and market conditions.
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.
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.