Gold ( $XAU ) is showing a bearish structure on the 1H chart, with price trading below the key EMAs. For now, I'm leaning toward the downside, but I want to see price respect the entry zone before considering a trade.
I'm keeping conviction moderate here. The broader structure favors sellers, but the short-term price action is consolidating, so there's no need to force an entry.
I'm keeping conviction moderate here. The broader structure favors sellers, but the short-term price action is consolidating, so there's no need to force an entry.