Gold (XAUUSD) has just been sharply rejected from the 3,400–3,380 supply zone on the 4‑hour chart, forming a bearish engulfing candle and signaling a shift in momentum toward the downside. A break and retest below 3,375 will confirm further bearish bias.
Key Levels:
Supply (Resistance): 3,400–3,380
Immediate Support: 3,375
Next Supports: 3,340 and 3,300
Strategy:
Entry: Short on clean break and retest below 3,375
Stop Loss: Above 3,385 (just above the supply zone)
Profit Targets: 3,340 (first), 3,300 (second)
Risk/Reward: Aim for at least 1:2; adjust position size to keep risk within 1–1.5% of account.
Key Levels:
Supply (Resistance): 3,400–3,380
Immediate Support: 3,375
Next Supports: 3,340 and 3,300
Strategy:
Entry: Short on clean break and retest below 3,375
Stop Loss: Above 3,385 (just above the supply zone)
Profit Targets: 3,340 (first), 3,300 (second)
Risk/Reward: Aim for at least 1:2; adjust position size to keep risk within 1–1.5% of account.
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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.