This chart shows a short setup for gold (XAUUSD) on the 30-minute timeframe. Price is currently trading below a descending trendline and has formed a lower high near a marked resistance level. There was a clear change of character and a break of structure to the downside, indicating a bearish shift in market sentiment. Volume also appears to increase on bearish candles, adding strength to the downside move. The target is marked near the previous low around 3350, suggesting a short opportunity with a clear resistance and descending trendline acting as confluence.
TP1 – 3370
Just above the immediate support level, offering a conservative exit before the price potentially bounces.
TP2 – 3350
The main target on the chart, near the previous low. Strong support zone; ideal for full or partial profit.
TP3 – 3325
Extension target if bearish momentum accelerates. Use only if volume and price action support further downside.
TP1 – 3370
Just above the immediate support level, offering a conservative exit before the price potentially bounces.
TP2 – 3350
The main target on the chart, near the previous low. Strong support zone; ideal for full or partial profit.
TP3 – 3325
Extension target if bearish momentum accelerates. Use only if volume and price action support further downside.
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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.