XAUUSD – Sharp Pullback After Hitting New ATHMarket Context:
Gold has seen a steep intraday drop after hitting a fresh all-time high at 4,179 USD/oz, extending beyond the morning target of 4,170–4,172.
The move likely reflects profit-taking amid broader market caution, as the US Dollar strengthened and GBP fell sharply, indirectly weighing on XAUUSD.
Silver also followed the correction, down over 2%, trading near 51 USD/oz after peaking at 53.60 earlier.
Despite this drop, the overall market sentiment remains defensive — both metals are still up about 2% for the week, suggesting this is a technical retracement, not a full trend reversal.
Technical Outlook (M30):
Price has broken below the short-term rising channel and is now retesting key liquidity areas.
Watch the 4,134 – 4,135 zone for a potential retest (50% pullback) before continuation toward lower buy zones.
End Liquidity Sell Zone: 4,165 – 4,170
Retest Zone (50% Down): 4,134 – 4,135
CP Buy Zone / Fibo 0.618: 4,052 – 4,054
OBS Buy Zone: 4,000 – 4,005
Trading Plan:
🔹 Sell Setup (Correction Play):
Entry: 4,134 – 4,136
Stop Loss: 4,142
Take Profit: 4130 - 4125 - 4120 - 4110 - 4100 - ???
🔹 Buy Setup (Reaction Zone):
Entry 1: 4,052 – 4,054 (Fibo 0.618 Confluence)
Stop Loss: 4,044
Take Profit: 4056 - 4060 - 4065 - 4070 - 4080 - 4090 - ???
Summary:
Gold’s sharp drop after a new ATH signals a short-term correction phase while the broader bullish trend stays intact.
A pullback toward 4,052 or even 4,000 could attract buy-side liquidity before any recovery.
Keep an eye on 4,135 for a potential retest before continuation.
📊 What’s your view — is this just a healthy retracement or the start of a deeper correction?
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