I was telling someone that $XAU $4856.12 behaves very differently compared to small-cap coins, and this short liquidation confirms that sellers underestimated demand. I’m watching how they reacted after the squeeze and price is holding firm instead of retracing sharply. I have done my analysis on higher timeframes and this looks like positioning pressure, not emotional buying. This is why you need to respect liquidation signals on heavy assets.

EP: 4820 – 4870

TP: 4925 → 5050 → 5250

SL: 4760

What’s the condition now? XAU must stay above 4820 to keep bullish structure intact. If you want confirmation, wait for continuation above 4925.

$XAU