Peter Smith
⬤ XAU just pulled off a dramatic comeback on the H4 timeframe—shooting up hard, crashing down harder, then clawing its way back up. The whipsaw action has traders scratching their heads about where it's headed next.
⬤ The chart's showing a textbook V-shape. Gold peaked, then got absolutely hammered with back-to-back red candles that sent it tumbling to a fresh low. But then? Total reversal. A string of green candles ripped through the chart, recovering a huge chunk of what was lost.
⬤ Here's where it gets tricky. After that monster bounce, gold didn't blast through to new highs—it just... stopped. Price pulled back a bit and is now stuck in no-man's-land between the recent top and that swing low. Nobody's quite sure if this is the start of something bigger or just a dead-cat bounce.
⬤ Right now, XAU is camped out just below resistance from that earlier peak. Whatever happens when price breaks out of this range—up or down—is going to settle this buy-versus-sell argument once and for all.
Peter Smith
