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xauusd 4H
Thursday's rally is interesting and how price action unfolded. It seems a deeper stop sweep off the previous swing high then an aggressive selloff. This is institutional selling at the 'breakout' to bulls and the way it collapsed suggest that the last of the bulls exhausted as it hit that swing high. Price has now pull back to the initial level it started marked in the yellow support zone and that is where price settled into Friday's close.
Price trend on this TF is still mildly bullish and the 2 direction I see price moving from Monday. The institutional traders could be squaring their position at the current zone OR they could target the next 2 lower swing points where a lot of bull stops are sitting. There are no price manipulation as perceived by conspiracy theorists, just areas of high liquidity where institutions either contract or expand price to target those levels.
If I were looking for trading opportunities, these are the levels I will be watching very carefully.