XAUUSD SHORT

Price Action Trading

H4 Bias is Bearish. USD is strengthening with interest rate staying at 5.5%

The price break through H4 horizontal level which supposed to react as support level. After closing below the broken support, the price formed a bearish flag pattern.

In H1 price broken and close below the flag support trendline. Price is expected to go lower from there.

Enter into M15 TF to look for entry level. Set a short trade at M15 Resistance level confluence close to H4 horizontal level & H1 broken flag trendline.

SL above the swing high of the flag and TP R:R 1:6 at the H4 support level.