XAU/USD Analysis: Potential Bearish Setup
🕒 Timeframe: 15M
💰 Instrument: Gold Spot (XAU/USD)
💵 Price: Currently trading around 2735.84 USD
We’re seeing a bearish market structure unfold on Gold, with potential key levels to watch for short setups. Here's the breakdown:
CHoCH (Change of Character): A shift in market structure from bullish to bearish around the 2755.79 level, indicating a potential move down.
Order Blocks:
EXT OB: Strong external order block at the 2755.79 resistance, serving as a supply zone.
DEC OB: Another order block around 2753.56, likely to add more supply pressure.
Key Price Levels:
Resistance around the 2755.79 and 2753.56 zones.
A BOS (Break of Structure) confirms the bearish outlook.
Bearish Scenario:
Retest of the EXT OB (2755.79) may trigger further downside moves.
We could expect price action to follow the bearish pattern indicated, with potential moves back down toward 2708.57 as shown by the arrows.
🛠 Strategy: Look for potential short entries on retests of the highlighted order blocks and take profits at key support levels around 2708. Manage risk carefully, as market volatility can lead to quick shifts!
💰 Instrument: Gold Spot (XAU/USD)
💵 Price: Currently trading around 2735.84 USD
We’re seeing a bearish market structure unfold on Gold, with potential key levels to watch for short setups. Here's the breakdown:
CHoCH (Change of Character): A shift in market structure from bullish to bearish around the 2755.79 level, indicating a potential move down.
Order Blocks:
EXT OB: Strong external order block at the 2755.79 resistance, serving as a supply zone.
DEC OB: Another order block around 2753.56, likely to add more supply pressure.
Key Price Levels:
Resistance around the 2755.79 and 2753.56 zones.
A BOS (Break of Structure) confirms the bearish outlook.
Bearish Scenario:
Retest of the EXT OB (2755.79) may trigger further downside moves.
We could expect price action to follow the bearish pattern indicated, with potential moves back down toward 2708.57 as shown by the arrows.
🛠 Strategy: Look for potential short entries on retests of the highlighted order blocks and take profits at key support levels around 2708. Manage risk carefully, as market volatility can lead to quick shifts!
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