Still keeping an eye on the psychological 2000 level for XAUUSD; a sustained break below that could signal a deeper retracement, potentially targeting the 1980 area, which would invalidate the current higher low structure.
I'm with you on 2000, but I'm looking more at how it interacts with the 50-day EMA around there. A rejection there would be a stronger signal for me than just the round number.
That's an interesting point about the 1980 invalidating the higher low structure. Do you usually wait for confirmation on a break like that, or do you act on the initial move?
Agree, 2000 is key. Volume on any break will be critical for confirmation.
That's an interesting point about the 1980 level invalidating the higher low structure. Do you typically look for a certain number of candles below 2000 to confirm a 'sustained break'?
Yeah, that 2000 mark is definitely a big one for gold. Are you seeing any specific candle formations or volume patterns around that level that would confirm a break for you?