$XAU
XAU Gold
On the lower time frame, price found support near the 0.8 retracement level on its first touch and staged a modest rebound.
The rebound was capped near the 4230 area, completing a support-to-resistance flip. After being rejected, price fell to a new low, moving even closer to the 4090 support level!
If that level breaks, this rebound will be over, and 3940 cannot be considered a bottom. Price will retest the low. My ideal entry zone remains 3800–3600!
XAU Gold
On the lower time frame, price found support near the 0.8 retracement level on its first touch and staged a modest rebound.
The rebound was capped near the 4230 area, completing a support-to-resistance flip. After being rejected, price fell to a new low, moving even closer to the 4090 support level!
If that level breaks, this rebound will be over, and 3940 cannot be considered a bottom. Price will retest the low. My ideal entry zone remains 3800–3600!
