The image you uploaded is a technical analysis chart for XAU/USD (Gold) on the 1-hour timeframe, published on TradingView. Here’s a breakdown of the chart:
1. Trend and Pattern:
The chart shows a bullish trend with two ascending channels (marked in green) that recently broke to the downside.
The price reached a resistance zone (marked with a black rectangle) and reversed sharply.
2. Price Action:
The current price is approximately 3,370.94, showing a decrease of 1.91%.
After breaking the ascending channel, the price is showing bearish momentum.
3. Prediction/Target:
The chart suggests a potential continuation of the downward move, with a target around the 3,340 level (marked in blue).
A consolidation or small pullback is indicated before continuing downward.
4. Key Zones:
Resistance Zone: Around 3,400 - 3,440.
Support Zone/Target: Around 3,340.
The chart analysis indicates a bearish bias with the possibility of a price drop toward the target zone. Would you like insights on trading strategies based on this analysis?
1. Trend and Pattern:
The chart shows a bullish trend with two ascending channels (marked in green) that recently broke to the downside.
The price reached a resistance zone (marked with a black rectangle) and reversed sharply.
2. Price Action:
The current price is approximately 3,370.94, showing a decrease of 1.91%.
After breaking the ascending channel, the price is showing bearish momentum.
3. Prediction/Target:
The chart suggests a potential continuation of the downward move, with a target around the 3,340 level (marked in blue).
A consolidation or small pullback is indicated before continuing downward.
4. Key Zones:
Resistance Zone: Around 3,400 - 3,440.
Support Zone/Target: Around 3,340.
The chart analysis indicates a bearish bias with the possibility of a price drop toward the target zone. Would you like insights on trading strategies based on this analysis?
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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.
XAUUSD GOLD + BTCUSD Daily 5-6 Free Signals📊🚀
✅GOLD
✅BTC
✅EURUSD
✅USDJPY
TELEGRAM CHANNEL 👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻
t.me/+QC9FeJZu3mthYTRk
✅GOLD
✅BTC
✅EURUSD
✅USDJPY
TELEGRAM CHANNEL 👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻
t.me/+QC9FeJZu3mthYTRk
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.