XAUUSD FUTURES 1H TIME FRAME DATE 7/24/2024

Update on XAUUSD: Target hit with 20RR secured; 50% position still open. Currently observing unclear price action suggesting a potential downside correction, making short positions risky. Adopting a wait-and-see approach as volatility (FVG model) indicates a countertrend scenario.

On higher timeframes, liquidity generation and range manipulation are critical. Despite bearish sentiment on gold, current conditions pose challenges for finding risk-off opportunities. Low timeframes indicate potential range-bound movements, hindering selling opportunities, while long-term trends discourage buying.

Recommendation: Await macroeconomic news or key market sessions like London or New York for clearer signals.