Gold (XAU/USD) surged to an All-Time High (ATH) at $3332 following today's economic data, with bulls pushing aggressively amid risk-off sentiment. However, despite the initial momentum, price action is beginning to show clear signs of exhaustion.
On the M1 chart, a textbook double top has formed right at the ATH, followed by a slow grind lower. This suggests that buyers may be running out of steam, and smart money could be preparing to offload positions near the highs.
Key observations:
ATH: $3332 has acted as strong resistance.
Current price is hovering around $3326–$3328 with failed attempts to break higher.
Volatility from the news has faded, and the market is starting to consolidate.
No follow-through buying above the ATH = possible bull trap in the making.
My Strategy: I’m watching the 3310 level closely — that’s my sell stop, with a target down to $3280, where liquidity likely resides. If the price fails to hold above 3325 and breaks below 3320, I expect the bearish move to accelerate.
Takeaway: Gold has reached an inflection point. ATHs often attract retail euphoria, but smart traders watch for signs of distribution and reversal patterns — especially after a high-impact news event.
Keep your eyes on the 3310 break. The next wave could be a decisive one.
#XAUUSD #TechnicalAnalysiss #smartmoney #BinanceSquareTalks #ForexTrading