XAUUSD . 🚨 DON’T CHASE GOLD ABOVE $4,500 — HERE’S WHY So guys, Friday’s price behavior is already giving us some important clues. After the strong bullish momentum we saw throughout the week, Last week key resistance level around $4,450 was broken and then started acting as support. Naturally, this has brought a fresh wave of buyers into the market, with many traders now expecting a straightforward continuation toward the upside. But from a psychological perspective, I don’t think the market is going to make that continuation easy. If you look closely at the price action, Gold has repeatedly approached Thursday’s high and faced rejection. On the lower timeframes, we are seeing multiple rejections from the same area, which suggests that buyers are entering after every breakout attempt, but are repeatedly getting trapped and liquidated. At the same time, they continue trying to build fresh long positions, expecting the next breakout to finally happen. This is exactly the type of behavior that can create liquidity for the next move. My expectation is that Gold may struggle to close above $4,570 today. The main zone I am watching is $4,540–$4,554. If Gold reaches this area and starts showing a clear rejection, I will be looking for a reversal back toward $4,500, with the possibility of a breakdown below it. The reason $4,500 is so important is simple: it is a major psychological round number. Whenever price breaks above or below an obvious level like this, random buyers and sellers tend to enter aggressively. That creates liquidity on both sides of the market. Also, we have to consider the momentum we already saw earlier in the week. After a major impulsive move, the market does not always immediately deliver another strong move in the same direction. It often needs time to absorb positions, create liquidity, and trap late participants before making the next meaningful move. Thursday’s New York session gave us another important clue.