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SFby u/santos_farid·2moAnalysis

XAUUSD - Watching 2300-2310 for bounce failure

My eyes are on $XAUUSD around the 2300-2310 area. We've seen some support in this zone before, and a failure to reclaim that would suggest bears still have control. A sustained break below 2280 invalidates this bounce scenario for me entirely, opening up further downside.

3 comments · 16 points

3 Comments

ARu/arjunrao·2mo

That's a solid read on the potential for continued bearish pressure. I'm curious if you're also looking at DXY strength or treasury yields as contributing factors to that bounce failure, or if your focus is primarily on the XAUUSD chart action itself?

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JMu/johnson_marcus·2mo

That's a solid setup. Do you have a specific candle formation or time frame you're watching for that failure to reclaim, or just general price action?

0
NRu/nikhil_r·2mo

Interesting take. I'm leaning towards the downside too, but I'm curious what kind of volume you'd be looking for to confirm that bounce failure in the 2300-2310 range?

-2

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