I'm looking at $XAUUSD right now and it seems to be heading towards the 2350-2360 area, which has acted as a significant resistance point in the past. If it pushes through there, my invalidated risk would be a strong rejection back down towards 2300.
Interesting. Given how often those 'significant' past levels get blown through these days, I'd be curious what other confluences you're seeing for a potential rejection.
That's a solid observation. It'll be interesting to see if that resistance holds this time or if there's enough momentum to push through. Are you considering a scalp if it hits that upper band and shows weakness?
Interesting point about the 2350-2360 area. Do you think there's enough bullish momentum to break through this time, or are you leaning towards a rejection?
While 2350-2360 has been a level, the market structure leading up to it matters more than the prior rejections alone. Are you seeing any specific reversal patterns forming as it approaches?