This is a 4-hour (4H) chart of XAU/USD (Gold vs US Dollar) from TradingView, showing a bearish market structure with key levels and a projected downside target.
Chart Breakdown:
1. Overall Trend:
The price has been in a clear downtrend, forming lower highs and lower lows, indicated by the black trend lines connecting swing points.
2. Highlighted Zones (Yellow Rectangles):
These represent key supply and demand zones:
The upper zone (~3,360) marks a previous supply/resistance level where selling pressure resumed.
The middle zone (~3,320) shows a recent breakdown and now acts as resistance after price failed to hold above it.
The bottom zone (~3,237) is marked as the bearish target, likely a strong demand/support area.
3. Current Price Action:
Price is currently at 3,276.535, just under the mid-zone resistance.
A bearish continuation is projected with a move down toward the target zone around 3,237.
4. Trade Setup:
The shaded area indicates a short position setup.
Entry appears to be near 3,299, with a target near 3,236.924 and likely a stop-loss above the middle resistance zone.
Interpretation:
This chart suggests a bearish continuation setup:
Resistance zones have held during retests.
The break of structure confirms bearish momentum.
Next key support (target) lies at the 3,236–3,237 zone.
Bias: Bearish, targeting the lower demand zone unless price reclaims above 3,320 with strong volume.
Chart Breakdown:
1. Overall Trend:
The price has been in a clear downtrend, forming lower highs and lower lows, indicated by the black trend lines connecting swing points.
2. Highlighted Zones (Yellow Rectangles):
These represent key supply and demand zones:
The upper zone (~3,360) marks a previous supply/resistance level where selling pressure resumed.
The middle zone (~3,320) shows a recent breakdown and now acts as resistance after price failed to hold above it.
The bottom zone (~3,237) is marked as the bearish target, likely a strong demand/support area.
3. Current Price Action:
Price is currently at 3,276.535, just under the mid-zone resistance.
A bearish continuation is projected with a move down toward the target zone around 3,237.
4. Trade Setup:
The shaded area indicates a short position setup.
Entry appears to be near 3,299, with a target near 3,236.924 and likely a stop-loss above the middle resistance zone.
Interpretation:
This chart suggests a bearish continuation setup:
Resistance zones have held during retests.
The break of structure confirms bearish momentum.
Next key support (target) lies at the 3,236–3,237 zone.
Bias: Bearish, targeting the lower demand zone unless price reclaims above 3,320 with strong volume.
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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.
t.me/goldsignalsclub3
Join my telegram for free signals link in below
t.me/goldsignalsclub3
Join my telegram for free signals link in below
t.me/goldsignalsclub3
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.