Gold ($XAUUSD) Double Top: Is the Party Over?

Mar 30

Hi guys!

Gold is looking heavy here. After a massive run-up, we’ve officially formed a Double Top at the highs, signaled by a clear Bearish Divergence. This suggests the bulls are running out of steam, and the momentum is shifting. (not on high time frames)

We’ve already seen a sharp break below the recent consolidation, and I’m now looking for a "retest and reject" play. My eyes are on two specific zones for a short entry:

The first entry (around 4,750): A quick retest of the broken support-turned-resistance.

The second entry (around 5,050): A deeper retracement if the market tries to trap early bears.

The ultimate target is the 3,880 - 3,920 liquidity zone. This aligns perfectly with the measured move of the pattern and previous structural support from October.

Plan: Wait for the bounce into the red boxes, look for price action confirmation, and ride the move down to the blue target zone.


What do you guys think? Are we heading back to sub-4k or is this just a fake-out? Let me know in the comments!

Mar 30

Note

*Target of the double top!

Apr 1

Trade active

#Gold

✅The first entry level has been reached!

However, the downside move is not confirmed yet.

You can consider entering with 20% of your position at this stage, while waiting for confirmation before scaling further.

Stay cautious and manage risk.

Apr 3

Note

Good reaction!