@kmehta610 on XAUUSD | PriceONN Community
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.
Replies
@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?