Rejection from psychological resistance with momentum turning down
Entry $4,960 to $5,000
Stop Loss $5,060
TP1 $4,900
TP2 $4,840
TP3 $4,760
Why this setup
$XAU faced strong rejection near the $5,000 psychological level after a sharp impulsive rally. Price is now forming lower highs on 1H and showing signs of short term exhaustion. As long as it stays below $5,060, corrective continuation toward $4,900 and $4,840 remains likely. A breakdown under $4,900 can accelerate the move toward $4,760 liquidity.
Will $XAU fail to reclaim $5,000 and extend the downside correction?
Buy and Trade $XAU
XAUUSDT
Διην.
5,011.83
+1.59%