【Oct 4】 $XAU
On the weekly level, it’s a bearish candlestick with a gap. After filling the prior upside daily gap, there wasn’t much pullback response; downside momentum still remains dominant. Going forward, if the earlier breakout triangle consolidation does not hold, then the low at 3941 will very likely be reached, and it could even break.
On the daily level, the right-side decline structure is forming: after a big sell-off, there was a rebound. On Friday, the rebound high was taken out, then price fell again. The near-term downside target is around the 4110 liquidity zone.
On the 4-hour level, the right-side decline structure has shifted into a sideways range. The high is around 4220 where it’s being rejected, and the next target is also 4110. Whether price breaks below or reclaims it will determine the entry direction.
The 1-hour structure is similar as well. Until 4110 prior high is taken out, stay cautious on short positions and watch the gap at 4178/4166. For longs, the focus remains around 4100–4110. If price moves further down, we’ll need to wait for it to play out and then reassess.
#黄金 #XAU
On the weekly level, it’s a bearish candlestick with a gap. After filling the prior upside daily gap, there wasn’t much pullback response; downside momentum still remains dominant. Going forward, if the earlier breakout triangle consolidation does not hold, then the low at 3941 will very likely be reached, and it could even break.
On the daily level, the right-side decline structure is forming: after a big sell-off, there was a rebound. On Friday, the rebound high was taken out, then price fell again. The near-term downside target is around the 4110 liquidity zone.
On the 4-hour level, the right-side decline structure has shifted into a sideways range. The high is around 4220 where it’s being rejected, and the next target is also 4110. Whether price breaks below or reclaims it will determine the entry direction.
The 1-hour structure is similar as well. Until 4110 prior high is taken out, stay cautious on short positions and watch the gap at 4178/4166. For longs, the focus remains around 4100–4110. If price moves further down, we’ll need to wait for it to play out and then reassess.
#黄金 #XAU
