Gold's Been Smacked...Now Where Does It Go?Gold vs US DollarPEPPERSTONE:XAUUSDSimon-On-Markets 🔥 Gold Weekend Update – Key Liquidity & Levels I’m Watching Hey traders 👋 Just a quick weekend update from me on gold and the key areas I’m watching going into next week. After stepping back this morning, I’ve restructured the chart following Friday’s continued sell-off, and things are looking much cleaner now. 🧠 Bigger Picture We’ve had a clear shift recently: Trendline broken Lower highs forming Strong sell pressure coming in 👉 Right now, the market is accepting lower prices, so I’m favouring shorts until we see a reclaim of 4761. 🌍 Market Context (Why Gold Is Dropping) A bit of context around the recent sell-off as well. Even though gold is typically seen as a safe haven, in fast-moving markets things can flip quickly. With stocks and crypto also pulling back, institutions often need to free up liquidity. That usually means selling assets that are already in profit — and gold has had a strong run up recently. At the same time, the US dollar is being treated as the primary safe haven right now, especially with ongoing geopolitical tensions. 👉 Strong dollar + profit taking = pressure on gold So the move we’re seeing isn’t random — it’s likely a combination of: Position unwinding Liquidity needs Dollar strength 🟡 Key Rotation Level – 4761 This is a key level for me. Around 4761, I see this as the main rotation / bias shift area. If price pushes into this level And we start to see volume build And price accepts above 👉 Then I’ll reassess and start looking for bullish rotation Until then: 👉 I’m treating this as a potential rejection zone 🟢 Liquidity Below We’ve now cleared the daily trend, and there are some really clean areas below where price could react nicely. My main levels: 4404 4282 These sit within previous bullish structures and represent midpoints of liquidity from earlier runs. 👉 These are the areas I’ll be watching for reactions or potential slowdowns in the move. 🔴 Volume Read The overall volume profile is telling a simple story: Price was accepted higher But recent moves have been driven by strong sell volume 👉 You can clearly see the shift in control over the last week ⚙️ How I’m Approaching This This is my higher timeframe map. I use this chart to understand: Direction Key value areas Liquidity targets Then I duplicate it and work down through: 👉 4H → 1H → 30m → 15m That’s where I refine entries. 🎯 What I’m Watching Next Week That 4761 level (main bias shift) stands out as a key area. If price pushes up into that zone and fails to hold: 👉 There could be some really clean continuation shorts there 💬 Final Thoughts No need to overcomplicate this. Below 4761 → favouring shorts Watching for reactions into liquidity below Reassess if we reclaim and hold higher One clean move is all it takes. Enjoy your weekend and looking forward to catching up with everyone next week 👊