XAUUSD (Gold) Trading Plan
🔹 Market Sentiment: Bearish bias following a bullish correction.
🔹 Key Levels:
Resistance Zone: $2,950 – $2,960 (Ideal Sell Zone) 🚀
Support Targets: $2,913 – $2,924 (Potential Low) 📉
📊 Technical Analysis:
✔ Trend: Bearish structure forming lower highs after a corrective upswing.
✔ Indicators:
EMA (50 & 200): Price testing dynamic resistance near key EMAs.
RSI: Overbought on lower timeframes, signaling potential downside.
ATR: Increasing volatility suggests strong moves ahead.
Support & Resistance: Confluence of order blocks aligning with key Fibonacci retracement levels.
🌍 Fundamental Outlook:
📌 Dollar Strength: USD showing resilience due to hawkish Fed comments.
📌 Interest Rate Expectations: Rising US yields may pressure gold prices.
📌 Geopolitical Risks: Safe-haven demand remains a factor, but selling pressure persists.
📢 Trading Advice: Wait for bearish confirmations such as rejection wicks, bearish engulfing candles, or lower timeframe breakdowns before entering short positions.
💡 Stay disciplined & follow risk management! 🔥
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.
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.