hello traders
What are your thoughts on xauusd
### **Key Observations:**
1. **Price Action & Pattern:**
- **Bearish Flag Pattern** identified (continuation pattern). This suggests a potential resumption of the prior downtrend after a brief consolidation.
- The pattern’s parameters (15, 50) likely refer to the consolidation period and flagpole length.
- Current price: **2,904.95** (down **0.49%**), testing near-term support at **2,903.59**.
2. **Technical Indicators:**
- **EMA (200, close)** is bearish, indicating the price is trading below this long-term moving average, reinforcing the downtrend.
3. **Key Levels:**
- **Resistance:** Recent high at **2,940.000** (top of the flag).
- **Immediate Support:** **2,903.591** (critical level; a break below could trigger further selling).
- **Lower Targets:** Measured move target of the bearish flag (projected decline equal to the flagpole’s height).
### **Interpretation & Strategy:**
- **Bearish Bias** dominates due to the EMA 200 alignment and bearish flag structure.
- A confirmed break below **2,903.59** could signal a sell opportunity, targeting **2,880–2,860** (projected flagpole move).
- If price rebounds above **2,920**, the bearish pattern would be invalidated, shifting focus to resistance at **2,940**.
What are your thoughts on xauusd
### **Key Observations:**
1. **Price Action & Pattern:**
- **Bearish Flag Pattern** identified (continuation pattern). This suggests a potential resumption of the prior downtrend after a brief consolidation.
- The pattern’s parameters (15, 50) likely refer to the consolidation period and flagpole length.
- Current price: **2,904.95** (down **0.49%**), testing near-term support at **2,903.59**.
2. **Technical Indicators:**
- **EMA (200, close)** is bearish, indicating the price is trading below this long-term moving average, reinforcing the downtrend.
3. **Key Levels:**
- **Resistance:** Recent high at **2,940.000** (top of the flag).
- **Immediate Support:** **2,903.591** (critical level; a break below could trigger further selling).
- **Lower Targets:** Measured move target of the bearish flag (projected decline equal to the flagpole’s height).
### **Interpretation & Strategy:**
- **Bearish Bias** dominates due to the EMA 200 alignment and bearish flag structure.
- A confirmed break below **2,903.59** could signal a sell opportunity, targeting **2,880–2,860** (projected flagpole move).
- If price rebounds above **2,920**, the bearish pattern would be invalidated, shifting focus to resistance at **2,940**.
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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.