The XAU/USD Pair on the M30 period offers a potential selling opportunity due to the recent formation of a Trendline Breakout Pattern. This indicates a shift in momentum to the downside in the coming hours.
For a short trade, consider entering around the pattern's trendline.
Target levels: 2904 (first support) and 2880 (second support).
:
🚨 XAU/USD – Trendline Breakout Signals Sell! 📉
💰 Gold Spot (XAU/USD) - 30M Chart Breakdown
🔍 Key Observations:
🔹 Trendline Breakout: Price broke below the strong ascending trendline, confirming a bearish shift.
🔹 Resistance Zone: $2,942 - $2,954 acted as a rejection point, leading to a sharp sell-off.
🔹 Strong Bearish Momentum after breaking key support levels.
📉 Bearish Trade Setup:
📌 As long as price remains below $2,912, we expect further downside towards:
🎯 1st Support: $2,903
🎯 2nd Support: $2,880
📌 A break above $2,912 could lead to a short-term recovery, but overall bias remains bearish.
📊 Key Levels to Watch:
✅ Resistance: $2,942 - $2,954
✅ Support: $2,903 & $2,880
💬 Do you agree with this bearish outlook? Let us know in the comments!👇🔥
#gold #xauusd #forex #trading #priceaction #technicalanalysis
For a short trade, consider entering around the pattern's trendline.
Target levels: 2904 (first support) and 2880 (second support).
:
🚨 XAU/USD – Trendline Breakout Signals Sell! 📉
💰 Gold Spot (XAU/USD) - 30M Chart Breakdown
🔍 Key Observations:
🔹 Trendline Breakout: Price broke below the strong ascending trendline, confirming a bearish shift.
🔹 Resistance Zone: $2,942 - $2,954 acted as a rejection point, leading to a sharp sell-off.
🔹 Strong Bearish Momentum after breaking key support levels.
📉 Bearish Trade Setup:
📌 As long as price remains below $2,912, we expect further downside towards:
🎯 1st Support: $2,903
🎯 2nd Support: $2,880
📌 A break above $2,912 could lead to a short-term recovery, but overall bias remains bearish.
📊 Key Levels to Watch:
✅ Resistance: $2,942 - $2,954
✅ Support: $2,903 & $2,880
💬 Do you agree with this bearish outlook? Let us know in the comments!👇🔥
#gold #xauusd #forex #trading #priceaction #technicalanalysis
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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.
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.