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Short Opportunity in XAUUSD

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On the fundamental side,
we are still long so stay alert for economic data over the next few weeks.

Switching on a technical perspective,
D: we broke a key zone.
4h: we have a strong switch to the down trend.

we will wait and see if the price will retest the 50% fib and rejecting the trend line and the supply zone before taking any action.

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beware of the RSI having as strong upward momentum in the 1h timeframe

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Thursday's GDP data will be the deciding factor for market movement,
We can anticipate two potential outcomes:

1. If the GDP exceeds expectations, investors may feel more secure, and as a result, gold prices may not decrease significantly.

2. In the event of a worse-than-anticipated GDP, there could be concerns about a potential recession, leading to a surge in demand for safe-haven assets like gold. This increased demand could drive up gold prices significantly, possibly even reaching all-time highs.

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tp 1 reached

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looking to leave fully my position before tomorrow's GDP data or at least if i see a good potential, i will leave a 25% floating in profit , closing the other 75%

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moving my SL to break even

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Gold's technicals are favorable as it has rejected a trend on the 4-hour chart with a hammer. We're currently anticipating the release of GDP numbers in 20min, but our position is secure with a stop loss in profit and we've already taken profits on 50% of our position at TP1.

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Despite GDP data coming in below expectations, i have observed the price being pushed downwards through common tactics of manipulation. In the event that the price fails to reach either the take profit or stop loss thresholds, i suggest manually closing out the position before the US market opens. By doing so, i anticipate the conclusion of the price manipulation and a return to the asset's true movement, potentially leading to more favorable outcomes.