The expected follow-through never came, but the giveaway arrived first. The moving averages on both the 4-hour and daily XAUUSDT charts are fanning out downward in sync, with price pinned below the EMA50 and EMA200. The bearish alignment remains intact. Each rebound comes with weaker volume, showing that selling pressure overhead is still coming in decisively. Given this structure, I favor trading with the trend and looking for a pullback rather than trying to call a bottom.
If another upper wick forms near a key level, the downward move could gather pace. A rebound is possible, but it won’t change the broader direction.
🔴 Trade direction: Short
📍 Entry range: 4053.56 – 4058.88
🛑 Stop loss: 4116.53
🎯 Take profit 1: 4011.00
🎯 Take profit 2: 3980.85
🎯 Take profit 3: 3935.62
Take in the vastness of mountains and seas; observe the market’s finer details.
Trade alongside Uncle Xiong and witness the highs and lows of the world.
#XAU
Click below to trade 👇
If another upper wick forms near a key level, the downward move could gather pace. A rebound is possible, but it won’t change the broader direction.
🔴 Trade direction: Short
📍 Entry range: 4053.56 – 4058.88
🛑 Stop loss: 4116.53
🎯 Take profit 1: 4011.00
🎯 Take profit 2: 3980.85
🎯 Take profit 3: 3935.62
Take in the vastness of mountains and seas; observe the market’s finer details.
Trade alongside Uncle Xiong and witness the highs and lows of the world.
#XAU
Click below to trade 👇