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Thoughts on XAUUSD's reaction to 2300
Been watching $XAUUSD closely around the 2300 level. It's held as support for a while now, but the recent bounces feel less convincing to me. If we see a decisive break and daily close below 2280, I'd consider that a significant invalidation of the current consolidation, potentially opening the door for a retest of lower demand zones. The volatility seems to be compressing, often a precursor to a move, but the direction is still uncertain without that clear break.
1 comments · 3 points
I'm seeing similar price action; the lower highs are concerning. Are you waiting for a specific candle close or just a breach below 2280?