Pullback Alert: Is the Uptrend Losing Steam?

Below is a multi-timeframe breakdown of what the charts are showing (likely Daily on the left, 4H in the middle, and 1H on the right) for Gold (XAU/USD), using Bollinger Bands and Moving Averages:

1. Daily Timeframe (Left Chart)

Primary Trend: Still bullish in the bigger picture. Price is well above the longer-term moving averages (e.g., the orange line which could be the 200 MA).
Pullback Underway: Recently, price has moved off the upper Bollinger Band and is dropping toward the mid or lower band. This indicates a short-term correction within a larger uptrend.
Momentum Shift: Candles are showing more selling pressure (red/bearish candles), and if price closes below the mid-BB or a key moving average, it can confirm a deeper pullback.

2. 4H Timeframe (Middle Chart)

Short-Term Downtrend: The 4H shows a clear sequence of lower highs and lower lows compared to its previous upswing.
Below Mid-BB: Price appears to be trading at or below the mid-Bollinger Band, confirming that sellers are in control in the near term.
Moving Averages: If the shorter MAs (like the 50 or 100) have crossed down or if price is below them, it strengthens the case for a temporary downtrend on this timeframe.

3. 1H Timeframe (Right Chart)

Intraday Bearish Momentum: The 1H chart highlights the most immediate price action, and it shows continued pressure to the downside (frequent tests of lower Bollinger Band).
Lower Highs, Lower Lows: Similar to the 4H, the 1H is printing a bearish market structure.
Potential Reversal Points: Watch for any bullish candlestick patterns near support (e.g., lower BB or a significant horizontal level). Without that, the 1H remains in a downward swing.

Overall Interpretation

Daily Trend remains up in the grand scheme, but it’s undergoing a pullback/correction phase.
4H and 1H are currently bearish, showing a down-swing that could continue unless we see a clear bullish reversal signal (e.g., price reclaiming the mid-BB or forming higher highs/lows).

Key Watch Area

Whether the Daily finds support at its mid-BB or a moving average—this could spark a bounce and continuation of the bigger uptrend.

If short-term charts (4H, 1H) fail to reclaim their mid-BB/MAs, the pullback could deepen before the larger trend reasserts itself.

In short, the market is in a short-term corrective mode on lower timeframes, while the higher timeframe (Daily) remains structurally bullish as long as major supports hold.