@melissa7929 on XAUUSD | PriceONN Community

Examining the Ichimoku Cloud on the H4 timeframe, XAUUSD is currently trading well below the cloud, reinforcing the bearish trend. The Tenkan-sen (5122.88) and Kijun-sen (5135.16) are acting as dynamic resistance levels. A decisive break above the Kijun-sen would be the first indication of a potential trend reversal, but until then, I remain bearish. Note that the Chikou Span is also lagging significantly behind price action, further confirming the downtrend. Key support to watch is the S2 pivot at 5034.86. A close below this level could trigger another leg down.