XAUUSD

Looking at XAUUSD on the 4hr timeframe , currently looking to take potential hedge positions upon the retest of the previously formed daily supply zone , which also confluences with the retest of the inner 1hr/4hr supply zone , we will be looking for a possible force liquidation of the daily bearish trendline upon the 3rd retest at 1850 price level , pushing price to the upside , we will look to take potential hedge positions upon the completion of the forced liquidation process at around 1850-1860 before the decline in value of Gold ,Liquidation of the previous Quarters High might result in a further continuation in the value of the rally of Gold to tap into 1950 before the huge decline, a break and close about the previous quarters high will invalidate our possible short positions and will look for possible short positions upon the retest of the 1950 price level