XAU/USD Short. NY Session. R:R - 4:1

Here's the first short idea for monday's NY session, since gold closed bearish on the daily on Friday, the market structure appears to be setting up for a move lower towards the 1680 liquidity, rather than any higher towards the 1830 liquidity. If this is the scenario you should be certain to short at the start of the NY session before big volume comes in and pushes the price lower. Using the tight SL set to just below the daily pivot is a good SL since if price rises above this point you can almost be certain gold will reach 1830 and enter a buy with very high conviction gold will reach 1830. If you are a swing trader and are willing to take a setup with a lower R:R ratio then feel free to set you SL higher based on your risk management. A nice setup here for the start of the week and if gold does indeed become bearish then leave a runner open as gold will continue downwards towards the low 1700 region