This week, we are reviewing a reversal trade that started a bullish rally after price rejected support. We'll start with analyzing the 1-hour timeframe of XAU/USD from October 25. XAU/USD (Gold) 1-hour chart from October 25, 2024 The 1-hour timeframe provides a good indication of the overall market trend. Once price moved bearish from a previous resistance and formed two strong bearish candles, the close of the following bullish candle—rejecting lower prices—established a maj