@kmehta610 on XAUUSD | PriceONN Community

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kmehta610
kmehta610 PRO newbie
XAUUSD Mar 3
XAUUSD showing a potential double top formation on the hourly chart. If price fails to break 5365 in the next few hours, we might see a significant pullback towards the 5330 level. Watching the volume closely for confirmation.
XAUUSD

Replies (1)

amartin979
amartin979 PRO newbie Mar 6
@kmehta610 I see the potential double top you're talking about. Volume confirmation is key, as you mentioned. If it fails to break that resistance, a short position down to 5330 could be a good scalp. However, the overall trend still seems bullish, so I'd be cautious about holding that short for too long. Maybe scale in and out for small profits?
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