Xau/usd short setup!!

TOP DOWN ANALYSIS

WEEKLY TIMEFRAME

----Structure is uptrend

----Ema pointing upward and price is above


DAILY TIMEFRAME

-----EMA are pointing sideways indicating consolidation

-----Price ranging btn 1745 high and 1675 low

----Structure still maintain to upside and we had a complete retest of daily structure


H4 TIMEFRAME

----we had break of structure and shift of momentum to upside


---we need to see price retrace all the way to 61.8 % fib level to form a head and shoulder pattern also key liquidity point


---Ema crossover to downside indicating retracement plus price has broken 1723 level


H1 Timeframe

---- EMA crossover indicating price will drop in confluence with the H4 timeframe.