The chart presents a 4-hour analysis of Gold (XAU/USD), showing a potential bearish reversal scenario after price tests a major resistance zone near $3,218 - $3,220. The price has surged strongly, currently at $3,218.924, but the forecast suggests that once price reaches the highlighted resistance zone (blue circle), a reversal could occur.
The anticipated movement is:
A short-term bullish push into the resistance zone.
Followed by a bearish reversal with multiple targets:
TP1: $3,150
TP2: $3,070
TP3: $2,950
This outlook implies that traders should watch for signs of exhaustion or rejection near the marked resistance before considering short positions. Key support levels are clearly marked for possible take-profit zones or entries for long re-entries in case of strong bounces.
Let me know if you want a breakdown for trade execution or risk management based on this setup.
The anticipated movement is:
A short-term bullish push into the resistance zone.
Followed by a bearish reversal with multiple targets:
TP1: $3,150
TP2: $3,070
TP3: $2,950
This outlook implies that traders should watch for signs of exhaustion or rejection near the marked resistance before considering short positions. Key support levels are clearly marked for possible take-profit zones or entries for long re-entries in case of strong bounces.
Let me know if you want a breakdown for trade execution or risk management based on this setup.
Trade active
If gold has broken above the resistance level (~3,277) mentioned in the chart, then:Here's what it means now:
1. Bearish Setup is Invalidated:
The chart was based on the idea that price would fail at resistance and drop.
Since price has broken above that resistance, the bearish reversal setup has failed.
2. Shift to Bullish Bias:
A breakout above resistance suggests strong bullish momentum.
Traders may now look for buy opportunities, especially on pullbacks to the breakout zone (3,277 area becomes new support).
3. Next Key Levels to Watch:
Watch for the next resistance zones on the higher timeframes (daily/weekly).
Also observe for a retest of the breakout zone – if price bounces off it, that confirms bullish continuation.
4. Potential Strategy Now:
Wait for a retest of 3,277–3,290 zone.
If price shows bullish signs (like bullish candles or strong volume), you could consider entering long positions.
Set stop-loss below the new support and aim for next resistance (e.g., 3,350, 3,400, or beyond depending on price action).
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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.
🆓FREE FREE GOLD & CRYPTO SIGNALS✅
t.me/+v5m1fJKkyZkwOTFk
✅FOREX AND GOLD/XAUUSD SIGNALS 🔥
✅98% accurate signals
✅3-5 signals daily 🔥
✅Join us on telegram
t.me/+v5m1fJKkyZkwOTFk
t.me/+v5m1fJKkyZkwOTFk
✅FOREX AND GOLD/XAUUSD SIGNALS 🔥
✅98% accurate signals
✅3-5 signals daily 🔥
✅Join us on telegram
t.me/+v5m1fJKkyZkwOTFk
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.