Gold Scalp M5 | Oct 16, 2026

**Gold Scalp M5 | Oct 16, 2026 – V-reversal from 4155, buy the 0.500 pullback**

Gold dropped from 4192 to 4154.80 and then reversed hard in a sharp V, breaking the descending trendline on the way up. Price tagged 4180 (just above the 0.618) and is now pulling back.

Fibonacci of the drop (4192.14 → 4154.80):

- 0.382 → 4169.06

- 0.500 → 4173.47

- 0.618 → 4177.87

- 0.786 → 4184.15

The **0.500 level (4173.5)** lines up with the bottom of the 4173–4184 range from earlier in the session, which makes it a strong support area for a quick long.

**Trade: BUY LIMIT XAUUSD (M5 scalp)**

- Entry: 4173.5

- SL: 4166

- TP1: 4184

- TP2: 4192

**Invalidation:** an M5 close below 4169 (0.382) means the V-reversal has failed, and 4155 comes back into play.

Friday afternoon liquidity is thinner, so if the order isn't filled within the next 30–40 minutes, I'll cancel it.

Not financial advice – manage your risk.