Watching XAUUSD for a retest of the 2300 level. A clean break and hold below could indicate further downside, but a bounce here might suggest consolidation. Invalidated if it pushes strongly through 2320.
I'm seeing similar patterns, but I'm also keeping an eye on the DXY. A significant move there could easily shift the dynamic for XAUUSD, regardless of the 2300 level.
Interesting setup. Do you have a specific target in mind for further downside if 2300 breaks, or are you just playing it by eye at that point?
Interesting call. Are you seeing any specific candlestick patterns or volume indicators that support the potential for a bounce at 2300, or is it primarily a psychological level for you?
Ah, the classic 'will it bounce or will it plunge' game. Always a fun one with gold; it never seems to make up its mind until after you've committed your capital.