This chart outlines a bearish trading setup for gold (XAU/USD) after a strong rally toward resistance. Here's a breakdown of the setup and what to watch:
📉 Bearish Setup Explained
: Price recently tested the resistance at $3,370 and showed signs of rejection.
: A correction move is projected with targets set at:
: TP1: $3,300–$3,310 (first support/test zone)
: TP2: $3,250 (deeper support zone)
⚠️Breakout Condition:
The note says:
> The market will range in this area; if it breaks $3,300, we can consider more bearish move.
> This implies that $3,300 is a critical level — a close below this confirms further downside momentum.
🔍 Key Zones
: Resistance Zone: $3,370
: Sell TP1 Zone: $3,300–$3,310
: Key Breakdown Area: $3,300
: Sell TP2: $3,250
: Major Support Below: Around $3,200–$3,210
🔄 Range Possibility
> If the price doesn't break $3,300 decisively, expect sideways movement between $3,310–$3,330.
> Only a clear break and retest below $3,300 should trigger continuation toward $3,250 and potentially to $3,210–$3,200 support.
📉 Bearish Setup Explained
: Price recently tested the resistance at $3,370 and showed signs of rejection.
: A correction move is projected with targets set at:
: TP1: $3,300–$3,310 (first support/test zone)
: TP2: $3,250 (deeper support zone)
⚠️Breakout Condition:
The note says:
> The market will range in this area; if it breaks $3,300, we can consider more bearish move.
> This implies that $3,300 is a critical level — a close below this confirms further downside momentum.
🔍 Key Zones
: Resistance Zone: $3,370
: Sell TP1 Zone: $3,300–$3,310
: Key Breakdown Area: $3,300
: Sell TP2: $3,250
: Major Support Below: Around $3,200–$3,210
🔄 Range Possibility
> If the price doesn't break $3,300 decisively, expect sideways movement between $3,310–$3,330.
> Only a clear break and retest below $3,300 should trigger continuation toward $3,250 and potentially to $3,210–$3,200 support.
Trade active
As we discussed, the 3360-3370 area worked as a resistance. After opening the market, we saw some bearish moves and a sell setup that gave us almost 300+ pips. So now our sell trade is still active; wait for the levels and confirmation. Thank you Note
Congrats Target one 3300 achieved. We have booked 700 pips profit.Trade closed: target reached
We made profit now close this trade. 
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t.me/GoldenpipsFXtrader
t.me/GoldenpipsFXtrader
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.
Thank you for visiting us! Join us for more trading insights and signals.
t.me/GoldenpipsFXtrader
t.me/GoldenpipsFXtrader
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.