“Testing 5.22x again absorption before breakout, or range failGoldOANDA:XAUUSDJaddennMarket Context – Wyckoff Perspective (M30) On the M30 timeframe, XAU/USD continues to develop within a structured trading range following the initial stopping action. The market previously printed a Selling Climax (SC) and Secondary Test (ST), signaling exhaustion of the prior downtrend. The subsequent Automatic Rally (AR) defined the upper boundary of the range near 5.22x, after which price transitioned into consolidation rather than continuation. Currently: - Range resistance: ~5.22x - Dynamic ascending support: gradually rising from the lower boundary - Higher lows are being maintained on each pullback Despite multiple tests of resistance, rejection has not been aggressive. Corrections remain shallow and continue forming higher lows suggesting supply may be gradually absorbed rather than expanding. Momentum & Price Behavior - Swings are compressing, and candle ranges are narrowing, reflecting contraction before expansion. - Recent downward attempts failed to break prior lows, indicating reduced selling pressure. Momentum indicators remain neutral, with no clear bearish divergence at this stage. - This behavior aligns with a Phase B environment rotational, controlled, and potentially preparatory. Scenarios ➡️ Primary scenario: If price continues holding above the rising support and builds pressure beneath 5.22x, a breakout becomes increasingly probable. Confirmation would require: A decisive close above 5.22x Expanded candle range Successful retest holding above resistance In that case, structure would shift toward a short-term markup phase. ⚠️ Risk scenario: A sustained breakdown below the ascending support and acceptance under the lower range boundary would invalidate the accumulation structure and delay any bullish continuation. Intraday Reference Levels – Feb 26 Sell Zone: 5,237 – 5,240 TP: 5,234 – 5,229 SL: 5,244 Buy Zone: 5,116 – 5,119 TP: 5,122 – 5,127 SL: 5,112 Execution within the range requires discipline, as volatility remains compressed and false breaks are common. Disclaimer: This analysis reflects personal market observations for educational purposes only and is not financial advice. Always apply proper risk management and make independent trading decisions aligned with your own strategy and tolerance.