This is a technical analysis chart for Gold CFDs (XAU/USD) on a 2-hour timeframe from TradingView.
Key Observations:
Price Action & Structure:
The price is currently trading at $2,908.660.
It has recently broken below a consolidation zone (marked by the red rectangle).
The market is forming a bearish structure, suggesting potential further downside.
Support & Resistance Levels:
Resistance: Around $2,920.264, marked by the red zone.
Support: Around $2,886.513 - $2,880.449, marked by the green zone.
Indicators & Volume:
The VStop (Volatility Stop) is around $2,886.513, which aligns with a key support zone.
Volume is at 66.02K, suggesting moderate trading activity.
Trade Setup & Prediction:
Bearish Bias: The price is expected to continue dropping toward the $2,886.513 - $2,880.449 support range.
Potential Entry: A short trade could be taken around the current price, targeting the $2,880 level.
Stop Loss: Above $2,920 to manage risk.
Conclusion:
The market shows bearish momentum with a potential short trade opportunity targeting the $2,880 zone.
If the price fails to break below $2,886, a reversal or consolidation may occur.
Key Observations:
Price Action & Structure:
The price is currently trading at $2,908.660.
It has recently broken below a consolidation zone (marked by the red rectangle).
The market is forming a bearish structure, suggesting potential further downside.
Support & Resistance Levels:
Resistance: Around $2,920.264, marked by the red zone.
Support: Around $2,886.513 - $2,880.449, marked by the green zone.
Indicators & Volume:
The VStop (Volatility Stop) is around $2,886.513, which aligns with a key support zone.
Volume is at 66.02K, suggesting moderate trading activity.
Trade Setup & Prediction:
Bearish Bias: The price is expected to continue dropping toward the $2,886.513 - $2,880.449 support range.
Potential Entry: A short trade could be taken around the current price, targeting the $2,880 level.
Stop Loss: Above $2,920 to manage risk.
Conclusion:
The market shows bearish momentum with a potential short trade opportunity targeting the $2,880 zone.
If the price fails to break below $2,886, a reversal or consolidation may occur.
Trade active
Updated Trading Plan for Gold (XAU/USD) 2H ChartCurrent Price: $2,909.970
Resistance Level: $2,920.264
Support Zone: $2,887.759 - $2,880.449
Trend: Bearish breakout from consolidation
Take Profit Levels:
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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.
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.