XAUUSD trapping longs? XAUUSD is highly negatively correlated to DXY. Yet, when DXY is making new higher highs, XAUUSD is also trying to make higher highs. One of them will be proven incorrect. My suspect is XAUUSD. Hence, its trapping in progress! Moreover, there's a bunch of liquidity ready to be raided below monthly lows (notice two equal lows to the left) - Candy land!
Please note, signal is not complete till we see break of market structure in the reverse direction. Other pairs like NZDUSD and EURUSD have already done that now.