Watching XAUUSD at 2300 - A Critical Juncture?

asked by u/anna.rossi · 12d · 0 answers

Been closely monitoring XAUUSD action over the last few sessions, and that 2300 psychological level is really coming into focus. We've seen a fair amount of back-and-forth around it, suggesting a battle between buyers and sellers. On the daily chart, it looks like a potential double bottom might be forming if we can get a sustained close above it, which would certainly pique my interest for a longer-term rebound.

However, the risk I'm keeping in mind here is a decisive break and close below 2280. If that happens, it would invalidate the pattern I'm seeing and could open the door for a retest of the lower 2250s, or even further downside. It's not out of the question given the recent consolidation, and the broader macro picture still has a lot of moving parts. Just an observation, as always, not advice, but certainly something to watch.

Join the full discussion

Top answers

No answers yet. Be the first to answer.

Related questions