Current Market Context
Current Price: $3,389.093
Price Range of Candle: High $3,390.990, Low $3,369.075
Trend: The price has been in an uptrend since late March, peaking near $3,493 before a recent pullback.
Technical Indicators
Colored Boxes and Lines: These represent support/resistance zones and possibly stop-loss/take-profit zones for a potential short position.
Red Box at Top: Likely marks a resistance/supply zone (potential short entry).
Green Box at Bottom: Indicates a support/demand zone (take-profit area).
Trade Setup (Bearish Outlook)
The black arrows illustrate a bearish price projection:
Price is expected to reject near resistance (around $3,437–$3,493).
Then, pull back down, possibly reaching the $3,337–$3,267 region.
The setup implies a short position may be initiated at or near the current level, with a stop-loss above $3,437–$3,493 and a target near the green support zones.
Support and Resistance Levels
Resistance Zone: $3,437–$3,493
Key Support Levels: $3,337, $3,299, $3,267, $3,210
Immediate Support: Around $3,380 (short-term pivot level)
Summary
This chart suggests a possible short setup on gold, anticipating a drop after a resistance rejection. The risk-reward setup looks planned with defined zones for entry, stop-loss, and take-profit.
Current Price: $3,389.093
Price Range of Candle: High $3,390.990, Low $3,369.075
Trend: The price has been in an uptrend since late March, peaking near $3,493 before a recent pullback.
Technical Indicators
Colored Boxes and Lines: These represent support/resistance zones and possibly stop-loss/take-profit zones for a potential short position.
Red Box at Top: Likely marks a resistance/supply zone (potential short entry).
Green Box at Bottom: Indicates a support/demand zone (take-profit area).
Trade Setup (Bearish Outlook)
The black arrows illustrate a bearish price projection:
Price is expected to reject near resistance (around $3,437–$3,493).
Then, pull back down, possibly reaching the $3,337–$3,267 region.
The setup implies a short position may be initiated at or near the current level, with a stop-loss above $3,437–$3,493 and a target near the green support zones.
Support and Resistance Levels
Resistance Zone: $3,437–$3,493
Key Support Levels: $3,337, $3,299, $3,267, $3,210
Immediate Support: Around $3,380 (short-term pivot level)
Summary
This chart suggests a possible short setup on gold, anticipating a drop after a resistance rejection. The risk-reward setup looks planned with defined zones for entry, stop-loss, and take-profit.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.