Gold- New low and reversal after?

2023년 10월 4일

As I said yesterday, Gold is approaching a very strong support level, and considering the 1k pips drop in only a few days, a correction is probable.
Yesterday's price action was very volatile, also suggesting the bottom is near.
Although XauUsd could correct up without making a new low, considering the trend is strongly down, from money management and R:R perspective, only a buy in 1805-1810 would make sense.
That being said, I'm looking to buy dips for a new test of yesterday's high.