1. Current Trend: Bearish
The price is currently in a downtrend, confirmed by lower highs and lower lows.
“ChOCH” (Change of Character) and “BOS” (Break of Structure) labels indicate market structure shifts.
2. Key Zones:
Resistance Area (~3252): Former support, now resistance after BOS.
Support Area (3222–23): Price is hovering here; identified as critical.
If this area breaks, further downside is expected (continuation of bearish trend).
3. Bullish Reversal Setup:
If the support holds, the chart suggests a potential bullish move.
A "rounded bottom" or accumulation pattern is forming.
Target zone is around 3286–87, offering a risk-reward setup of ~2% gain.
4. Trade Idea:
Buy Entry: Near support (3222–23), if bullish confirmation forms.
Stop-Loss: Below the weak low (marked at the bottom).
Target: Resistance at ~3286 (shown by green arrow).
5. Important Notes on the Chart:
The author warns: “If price breaks this support area it can further drops”—so avoid premature buys.
Also, “Note!! Price is in bearish trend…” — meaning any long trades are counter-trend and should be treated cautiously.
Suggestions:
Wait for confirmation: Before entering a buy, wait for a bullish candlestick pattern or BOS in the opposite direction.
Trend-following traders may prefer to short a breakdown of the support zone.
Risk management is key, especially since this is a counter-trend setup.
The price is currently in a downtrend, confirmed by lower highs and lower lows.
“ChOCH” (Change of Character) and “BOS” (Break of Structure) labels indicate market structure shifts.
2. Key Zones:
Resistance Area (~3252): Former support, now resistance after BOS.
Support Area (3222–23): Price is hovering here; identified as critical.
If this area breaks, further downside is expected (continuation of bearish trend).
3. Bullish Reversal Setup:
If the support holds, the chart suggests a potential bullish move.
A "rounded bottom" or accumulation pattern is forming.
Target zone is around 3286–87, offering a risk-reward setup of ~2% gain.
4. Trade Idea:
Buy Entry: Near support (3222–23), if bullish confirmation forms.
Stop-Loss: Below the weak low (marked at the bottom).
Target: Resistance at ~3286 (shown by green arrow).
5. Important Notes on the Chart:
The author warns: “If price breaks this support area it can further drops”—so avoid premature buys.
Also, “Note!! Price is in bearish trend…” — meaning any long trades are counter-trend and should be treated cautiously.
Suggestions:
Wait for confirmation: Before entering a buy, wait for a bullish candlestick pattern or BOS in the opposite direction.
Trend-following traders may prefer to short a breakdown of the support zone.
Risk management is key, especially since this is a counter-trend setup.
Trade active
Gold Bullish 250 pips hit Gold Has breaks its Resistance Zone Now focus on the target Trade closed: target reached
Target hit Trade running on 3313 almost 800 pips 
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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.