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Watching XAUUSD for a move towards 2300
Been closely eyeing $XAUUSD for the past few sessions. It seems to be coiling up a bit, holding pretty steady around the 2330-2340 area. I'm wondering if we might see a push down towards the 2300 level. That zone feels like a significant support to me, potentially a retest of previous resistance now acting as support.
My concern, and what would invalidate this idea for me, is a clean break and hold above 2360. If we see price decisively close above that, then this short-term dip scenario towards 2300 becomes a lot less likely, and I'd need to reassess the bullish case. Just my thoughts, curious what others are seeing.
2 comments · 6 points
I'm with you on watching that 2300 level as a key area. It's interesting how price has been consolidating; often that can precede a more significant move. Do you have a specific time frame in mind for this potential move, or are you looking at the daily/weekly charts primarily?