🔍 Market Snapshot

Asset: XAUAUD (Gold/Australian Dollar)

Timeframe: 1-Hour (H1)

Recent Structure: Strong bullish rally → followed by consolidation

Current Price: ≈ 6390.79

Open Position: Sell 1.00 Lot @ 6381.94

Take Profit (TP): 6360.00

Current Status: Unrealized P/L ≈ –7,907 (price moved against the sell entry)

https://ct.icmarkets.com/signal?s=XAUAUD&d=sell&o=market&tp=6360&u=WebbersPro

🎯 Why the Sell Position?

The trade idea is built on the expectation of a technical correction after a powerful upside move:

📌 1. Exhaustion Signs After the Rally

The strong rally from Nov 24–25 created overextended conditions.

Candles near the 6420–6430 region show long upper wicks, indicating:

Buyers are struggling to push higher

Sellers are actively entering near the highs

Momentum is weakening

📌 2. Consolidation Zone on Nov 26

Price movement turned choppy and indecisive, a typical signal that the market is preparing for either:

A correction, or

A trend continuation

The sell trade anticipates the pullback.

⚠️ What Comes Next? Key Levels to Watch

The market is at a critical juncture. Everything depends on how price reacts around major levels:

🔥 Key Resistance: 6430

This is the barrier between correction and continuation.

📘 Possible Scenarios

Scenario 1 – Correction (Favorable for Sell Position)

If sellers defend the 6430 resistance and price breaks below 6380,

📉 Expect a fast drop toward the 6360 TP zone.

Technical pressure supports a deeper pullback.

Scenario 2 – Trend Continuation (Risk to Sell Position)

If buyers break above 6430,

🚀 The uptrend resumes with fresh upside momentum.

In this case, the sell position requires:

A Stop Loss, or

Manual management to limit further drawdown

🧠 Professional Insight

This setup highlights a common market behavior:

⚡ Strong moves often lead to consolidation, and that consolidation becomes the battleground between continuation and reversal.