Gold (XAUUSD) Technical Analysis – April 23, 2025
The market is currently showing bearish momentum following a retracement from the recent highs near the 3,500 mark. Price is now approaching key Fibonacci levels, presenting potential shorting opportunities for intraday and swing traders.
Key Levels to Watch:
📉 Short Opportunity 1:
Zone: 3400-3410 USD (Fibonacci 0.5 to 0.618)
Analysis: This is a premium supply zone and a retracement area aligning with the Fibonacci golden pocket. If the price revisits this region and shows bearish confirmation (e.g., bearish engulfing, rejections, or lower timeframe structure break), it's a high-probability short entry zone.
Signal: Look for price rejection patterns in this zone to initiate a short position.
Stop-Loss: 3,430
Target: 3,292 initially, then lower if structure breaks
📉 Short Opportunity 2 (Breakout Trade):
Zone: 3,292 – 3,300 USD (Major Support)
Analysis: This is a major support zone. A clean break below and successful retest from underneath would signal continuation to the downside.
Signal: Wait for a break and retest below 3,292 for confirmation before entering short.
Stop-Loss: Above 3,300 on retest
Target: 3,240 and potentially 3,215 – 3,220 zone
Overall Bias:
Bearish below 3,396. Price action confirms lower highs and lower lows. Structure supports selling rallies or breakdowns.
The market is currently showing bearish momentum following a retracement from the recent highs near the 3,500 mark. Price is now approaching key Fibonacci levels, presenting potential shorting opportunities for intraday and swing traders.
Key Levels to Watch:
📉 Short Opportunity 1:
Zone: 3400-3410 USD (Fibonacci 0.5 to 0.618)
Analysis: This is a premium supply zone and a retracement area aligning with the Fibonacci golden pocket. If the price revisits this region and shows bearish confirmation (e.g., bearish engulfing, rejections, or lower timeframe structure break), it's a high-probability short entry zone.
Signal: Look for price rejection patterns in this zone to initiate a short position.
Stop-Loss: 3,430
Target: 3,292 initially, then lower if structure breaks
📉 Short Opportunity 2 (Breakout Trade):
Zone: 3,292 – 3,300 USD (Major Support)
Analysis: This is a major support zone. A clean break below and successful retest from underneath would signal continuation to the downside.
Signal: Wait for a break and retest below 3,292 for confirmation before entering short.
Stop-Loss: Above 3,300 on retest
Target: 3,240 and potentially 3,215 – 3,220 zone
Overall Bias:
Bearish below 3,396. Price action confirms lower highs and lower lows. Structure supports selling rallies or breakdowns.
Trade closed: target reached
The break then retest is working nicely. Break from 3296 and retest it, running more than 200 ppis in profit.
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✅Free Telegram
t.me/+6YQX9c4-BiQ2M2M8
Twitter 👇
twitter.com/QuinnGoldTrader
t.me/+6YQX9c4-BiQ2M2M8
Twitter 👇
twitter.com/QuinnGoldTrader
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.