This chart represents a technical analysis setup for Gold (XAU/USD) on a 30-minute timeframe. Here’s my analysis:
Price previously rejected from this level, indicating strong resistance.
The price attempted to break above but failed, suggesting selling pressure.
Bearish Rejection and Downtrend Indication
The latest candlesticks show a rejection from the resistance zone.
The red arrow suggests an expected downward move.
Trade Setup:
Entry Zone: Around $2,939 - $2,935 (resistance area).
Stop Loss: Above $2,945 (red zone), meaning a breakout above resistance invalidates the short trade.
Target (Take Profit): Around $2,921 - $2,910, aligning with the green zone below.
Market Sentiment:
If price remains below $2,935, the bearish outlook stays valid.
Breaking above $2,945 could trigger a bullish reversal instead.
Conclusion:
Bearish Bias: Sellers are in control if resistance holds.
Short Trade Setup: Aiming for the lower support zone around $2,921 - $2,910.
Risk Management
Price previously rejected from this level, indicating strong resistance.
The price attempted to break above but failed, suggesting selling pressure.
Bearish Rejection and Downtrend Indication
The latest candlesticks show a rejection from the resistance zone.
The red arrow suggests an expected downward move.
Trade Setup:
Entry Zone: Around $2,939 - $2,935 (resistance area).
Stop Loss: Above $2,945 (red zone), meaning a breakout above resistance invalidates the short trade.
Target (Take Profit): Around $2,921 - $2,910, aligning with the green zone below.
Market Sentiment:
If price remains below $2,935, the bearish outlook stays valid.
Breaking above $2,945 could trigger a bullish reversal instead.
Conclusion:
Bearish Bias: Sellers are in control if resistance holds.
Short Trade Setup: Aiming for the lower support zone around $2,921 - $2,910.
Risk Management
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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.
JOIN MY FREE FOREX & GOLD SIGNALS TELEGRAM CHANNEL
USER𝐍AME. @XKing05
t.me/+wX1pwTyx-0VmODI0
EXNESS BROKER : one.exnesstrack.net/a/iok5e2yuvx
USER𝐍AME. @XKing05
t.me/+wX1pwTyx-0VmODI0
EXNESS BROKER : one.exnesstrack.net/a/iok5e2yuvx
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.