XAUUSD (GOLD) TRADE UPDATE

 Hey traders, here's an update of the XAUUSD shorts that I was holding into last week from 1723 when I took the trade during the previous trading week. Market opened last week with price rallying to 1656.40 from the previous week's close at 1642.07. Price still hadn't taken out the 1ST H1 high at 1662.47 to show a possible shift in market structure to bullish. Closed out on my scale-in positions from 1672.44 and continued holding my swing positions from 1723 & 1721. Price had been in a slight consolidation rallying to 167.30 then eventually dropping as expected. Price dropped to the H1 & H4 daily demand zone at 1628.73 & 1620.21 which is the origin of the previous rally to the major H4 & daily supply zone at 1731.49 & 1721.31 where I took my shorts from. Price has filled the major H4 and daily range from demand to supply and back to demand. I closed out my swing short positions at 1635.00, a 900 pips profit drop and price still went lower dropping into the anticipated demand.

Price dropped into demand, formed a rejection wick on H1 & H4, candle close inside demand followed by a strong rally away from demand in 2 large bullish H4 candles to 1652.20 showing strong bullish pressure and a shift in market structure to bullish as price took out the 1st H1 high at 1644.80 and formed a higher high, closing the week at 1656.51.