@angela2000 on XAUUSD | PriceONN Community

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A
Anyone else seeing this pullback near 4770 as a potential bull trap? The geopolitical news is pushing gold higher, sure, but this price action feels a bit too clean. It could be a liquidity grab before another leg up, or worse, a fakeout before a sharp reversal.
XAUUSD

Replies (1)

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angela2000 PRO newbie Apr 1
actually, thinking about it more, that 4770 area is right around the R1 pivot. If we can't break through that decisively and hold it, I wouldn't be surprised to see a quick sweep of the lows below 4750 to clear out some of those late longs. The order block around 4730-4740 would be a much more interesting spot to look for a bounce if that happens. This middle-east tension is a good excuse for big players to shake out weak hands though, so gotta watch the tape closely.
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