$XAU ‌ is doing that thing again where it makes everyone second-guess their entire strategy.

We just saw a pretty sharp rejection from the 5,400 area and now we’re sitting at 5,115. It looks like the market is trying to decide if this is just a healthy pullback or the start of a deeper slide back toward the 4,900 support zone.
The red candle from today is fairly aggressive, wiping out a few days of slow gains in one go. If we don’t see some buyers step in around this 5,100 level soon, we might be looking at a retest of the previous lows near 4,800.
I'm staying on the sidelines for a bit. Catching a falling knife here feels risky until we see some stabilization on the lower timeframes.

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