This 30-minute chart analysis of Gold shows a potential bearish move after rejecting from a key supply zone near 2927 - 2931 multiple times. The price failed to sustain at the 30-Min Order Block (OB) and is showing signs of a downside continuation.
🔹 Key Observations:
- Reversal Area: Price is expected to retest this are before continuing lower.
- 200 EMA Acting as Resistance: The breakdown below this level confirms a bearish bias.
- Bearish Target: Price is likely to reach the 2894 - 2891 demand zone, with an final
target near 2885 (Full TP).
📉 Trading Outlook:
If the price respects the reversal area and fails to break higher, further downside movement is expected. Watch for confirmation signals before entering short trades.
🚀 Stay tuned for live updates and market insights!
🔹 Key Observations:
- Reversal Area: Price is expected to retest this are before continuing lower.
- 200 EMA Acting as Resistance: The breakdown below this level confirms a bearish bias.
- Bearish Target: Price is likely to reach the 2894 - 2891 demand zone, with an final
target near 2885 (Full TP).
📉 Trading Outlook:
If the price respects the reversal area and fails to break higher, further downside movement is expected. Watch for confirmation signals before entering short trades.
🚀 Stay tuned for live updates and market insights!
Trade active
Slowly but gradually market reached our reversal area, now when we have a confirmation now we can take sell entries from here setting SL at previous strong key zone at 2927.By following this setup we cover good moves around 2:5 Risk Reward Ratio
Trade closed: target reached
Just wanted to share a quick update on the Gold (XAU/USD) trade idea I posted a couple of days ago. The market played out exactly as we anticipated! After rejecting the supply zone near 2927 - 2931, Gold moved lower and hit our bearish target zone of 2894 - 2891, eventually reaching the final target around 2885.The price respected the reversal area and broke below the 200 EMA, which acted as resistance.
Sell entries from the reversal area with a stop loss at 2927 worked out well as the market followed the expected structure.
What’s next?
Now that the target has been hit, it’s a good time to lock in profits and step back. I’ll be keeping an eye on the 2885 - 2880 zone for potential reactions—whether it’s a reversal or continuation, we’ll wait for clear signals before jumping into the next trade.
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.