A classic retail trap has occurred in the gold market (XAUUSD). The price broke local support/resistance, trapping retail traders into selling/buying, only for institutional algorithms to sweep liquidity and drive the price in the opposite direction. We have triggered a BUY position at the institutional entry point of 4174.
Outsmarting retail traps is the key to institutional trading. By entering at 4174, we buy/sell at the best discount price alongside smart money. To protect our trade, our stop loss is positioned at 4164.
Our profit targets are located at 4184, 4194, and 4204. Monitor the NY session close for trade management updates.