XAU/USD Technical Analysis (6H Chart)
The chart shows a symmetrical triangle formation with labeled harmonic structure (ABCD pattern), currently near the upper boundary of the triangle.
Key Observations:
Symmetrical Triangle: Price is moving within converging trendlines, suggesting consolidation Harmonic Pattern (ABCD): The D-point was recently completed near the triangle's resistance, indicating a potential reversal.
Expected Move: The chart suggests a bearish breakout from the triangle, targeting the 3,123.535 zone, as indicated by the arrow and emoji.
Current Price: Trading around 3,342.930, showing early signs of downward pressure.
Resistance: \~3,355.041 — key level where price might reject.
Support & Target Zone:3,123.535 — horizontal support zone marked for potential bearish move.
Trade Setup: Bearish Breakdown from Triangle
Entry (Sell): Around 3,350 – 3,355 (near upper trendline/resistance)
Stop Loss (SL): Above 3,375 (above triangle resistance to allow some buffer)
Take Profit (TP):
TP1: 3,300 (minor support area / midpoint)
TP2: 3,200 (breakdown continuation zone)
TP Final: 3,123 (major target zone shown on chart)
Conclusion:
If price fails to break above the upper trendline near 3,355, we can expect a bearish continuation toward 3,123. A break and close below the triangle support would confirm the sell setup.
The chart shows a symmetrical triangle formation with labeled harmonic structure (ABCD pattern), currently near the upper boundary of the triangle.
Key Observations:
Symmetrical Triangle: Price is moving within converging trendlines, suggesting consolidation Harmonic Pattern (ABCD): The D-point was recently completed near the triangle's resistance, indicating a potential reversal.
Expected Move: The chart suggests a bearish breakout from the triangle, targeting the 3,123.535 zone, as indicated by the arrow and emoji.
Current Price: Trading around 3,342.930, showing early signs of downward pressure.
Resistance: \~3,355.041 — key level where price might reject.
Support & Target Zone:3,123.535 — horizontal support zone marked for potential bearish move.
Trade Setup: Bearish Breakdown from Triangle
Entry (Sell): Around 3,350 – 3,355 (near upper trendline/resistance)
Stop Loss (SL): Above 3,375 (above triangle resistance to allow some buffer)
Take Profit (TP):
TP1: 3,300 (minor support area / midpoint)
TP2: 3,200 (breakdown continuation zone)
TP Final: 3,123 (major target zone shown on chart)
Conclusion:
If price fails to break above the upper trendline near 3,355, we can expect a bearish continuation toward 3,123. A break and close below the triangle support would confirm the sell setup.
Note
This setup expects price rejection at the upper trendline and a confirmed breakdown from the triangle. Make sure to watch for strong bearish candles or a retest confirmation before entering.
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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.
🟡 TELEGRAM CHANNEL:
Free Signals With Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
@t.me/daniel9145
Free Signals With Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
@t.me/daniel9145
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.