$XAU Market structure remains bearish as long as it stays below 4187. It is characterized by a series of lower highs (rejected at 4318, 4226, and 4187)
· Short-term price action shows a strong rebound from 4073 to 4147, but bullish momentum is fading. It is struggling to reclaim the 4150 level, and this appears to be a bounce within the downtrend.
🔴 Short scenario (primary)
· $XAU Short entry: 4150 - 4180 (watch for rejection on a retest of this resistance zone)
· Stop loss: Above 4230
· Take profit: 4100 (TP1), 4075 (TP2), 4050 (TP3)
🟢 $XAU Long scenario: Look for a potential double bottom only if the 4073 support block holds successfully
Support me by trading here 👇 #xau #xaut #paxg
· Short-term price action shows a strong rebound from 4073 to 4147, but bullish momentum is fading. It is struggling to reclaim the 4150 level, and this appears to be a bounce within the downtrend.
🔴 Short scenario (primary)
· $XAU Short entry: 4150 - 4180 (watch for rejection on a retest of this resistance zone)
· Stop loss: Above 4230
· Take profit: 4100 (TP1), 4075 (TP2), 4050 (TP3)
🟢 $XAU Long scenario: Look for a potential double bottom only if the 4073 support block holds successfully
Support me by trading here 👇 #xau #xaut #paxg