Looking at XAUUSD right now, I see one thing clearly: the price is starting to weaken at the peak, despite a pretty good rally earlier. Today's news doesn't support gold — risk-on sentiment is back, the USD has recovered slightly, so the stagnation of gold is perfectly reasonable.
On the H2 chart, the price is still within an uptrend channel, but the problem is that the 4,870–4,880 zone has been rejected multiple times. This is no longer just normal resistance, but a clear sign that the buyers are weakening. Each time it tests the resistance, it gets pushed down, indicating that selling pressure is waiting above.
What I've noticed is that the most recent structure isn't as "good" as before. Each subsequent peak isn't as strong as the previous one → the first sign that the market is preparing for a correction. Not a strong reversal immediately, but at least a downward move to "release the heat".
My preferred scenario is that the price will rebound slightly to the upper range, then be sold off again. The ideal selling zone remains around 4,860–4,880, with a reasonable target of 4,740. This is a very familiar trading pattern: when the price goes up, there will be sellers; there's no need to predict the peak—just follow the money flow.
On the H2 chart, the price is still within an uptrend channel, but the problem is that the 4,870–4,880 zone has been rejected multiple times. This is no longer just normal resistance, but a clear sign that the buyers are weakening. Each time it tests the resistance, it gets pushed down, indicating that selling pressure is waiting above.
What I've noticed is that the most recent structure isn't as "good" as before. Each subsequent peak isn't as strong as the previous one → the first sign that the market is preparing for a correction. Not a strong reversal immediately, but at least a downward move to "release the heat".
My preferred scenario is that the price will rebound slightly to the upper range, then be sold off again. The ideal selling zone remains around 4,860–4,880, with a reasonable target of 4,740. This is a very familiar trading pattern: when the price goes up, there will be sellers; there's no need to predict the peak—just follow the money flow.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
LEVEL UP YOUR TRADING
👉t.me/+aoROTvcQl3k4MzA1
Signals & setups to boost your edge
Free trading plans to follow
Real-time market insights
👉t.me/+aoROTvcQl3k4MzA1
Signals & setups to boost your edge
Free trading plans to follow
Real-time market insights
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.