Gold is showing bearish signals after breaking below a key ascending trendline that has supported the price action since September. The recent rejection from the resistance zone around $2,680 coupled with the trendline break suggests weakening momentum.
Key Technical Points:
Risk management is crucial - place stops above recent swing high at $2,685.
Always use proper position sizing and respect your stop losses.
Like & follow for more trade ideas! 🎯
#XAUUSD #Gold #TechnicalAnalysis
Key Technical Points:
- Price breaking below crucial ascending trendline
- Multiple bearish candles forming at resistance
- Current price: $2,649.92
- Key resistance: $2,685
- First target support: $2,620
- Second target: $2,580 (equilibrium zone)
Risk management is crucial - place stops above recent swing high at $2,685.
Always use proper position sizing and respect your stop losses.
Like & follow for more trade ideas! 🎯
#XAUUSD #Gold #TechnicalAnalysis
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.