Golden Pulse: Deciphering XAU/USD's Swift Swing

١٦ نوفمبر ٢٠٢٣

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🔗 Key Technical / Direction: Short

Type: Short-Term Scalp

☑️ Bearish Retest
1980.00 Area
Reasons:

⚡️ - Overbought RSI signal on 15min Chart
⚡️ - Resistance at previous high
⚡️ - Fibonacci retracement level from recent swing
⚡️ - Psychological round number resistance
⚡️ - High Volume Node from VPVR (Volume Profile Visible Range)
⚡️ - Divergence on Stochastic indicator

☑️ Bullish Reversal
1960.00 Area
Reasons:

⚡️ - Oversold RSI signal on 15min Chart
⚡️ - Support at previous day's consolidation
⚡️ - Fibonacci golden zone from last major dip
⚡️ - Low Volume Node providing a 'spring' potential
⚡️ - Stochastic indicator showing potential reversal
⚡️ - Confluence with 200-period MA support