Hello traders, 👋
I’m closely watching Gold (XAU/USD) for a possible short setup around the 3374 zone, and here’s my breakdown:
📉 Trend Structure:
Gold continues to respect its bearish market structure, consistently forming Lower Highs (LHs) and Lower Lows (LLs) — a clear sign of sellers maintaining control.
📐 Key Confluence at 3374:
Price is currently retracing toward a descending trendline that perfectly aligns with the 78.6% Fibonacci retracement level, drawn from the previous swing highs. This confluence zone strengthens the case for a potential reversal.
📍 Sell Zone:
I’m watching the 3360–3380 region, with 3374 being my preferred level to look for entries.
Entry Confirmation:
Before executing a trade, I’ll be waiting for:
A bearish engulfing candle
A bearish breaker block
Or a strong rejection pin bar on the lower timeframes
🎯 Targets:
TP1: 3321
TP2: 3253
TP3: 3210
🔒 Risk management is key – always wait for confirmation before entering!
Let me know what you think in the comments — agree or disagree? 👇
Trade safe and stay sharp!
I’m closely watching Gold (XAU/USD) for a possible short setup around the 3374 zone, and here’s my breakdown:
📉 Trend Structure:
Gold continues to respect its bearish market structure, consistently forming Lower Highs (LHs) and Lower Lows (LLs) — a clear sign of sellers maintaining control.
📐 Key Confluence at 3374:
Price is currently retracing toward a descending trendline that perfectly aligns with the 78.6% Fibonacci retracement level, drawn from the previous swing highs. This confluence zone strengthens the case for a potential reversal.
📍 Sell Zone:
I’m watching the 3360–3380 region, with 3374 being my preferred level to look for entries.
Entry Confirmation:
Before executing a trade, I’ll be waiting for:
A bearish engulfing candle
A bearish breaker block
Or a strong rejection pin bar on the lower timeframes
🎯 Targets:
TP1: 3321
TP2: 3253
TP3: 3210
🔒 Risk management is key – always wait for confirmation before entering!
Let me know what you think in the comments — agree or disagree? 👇
Trade safe and stay sharp!
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Related publications
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 Telegram Channel For Signals👇
t.me/+cJIWSM9RjvgyYzg0
t.me/+cJIWSM9RjvgyYzg0
Related publications
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.