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๐ XAU/USD Trading Signal
๐ Quasimodo Pattern on 1H Chart
Key Levels:
Breakdown Level: ~3030
Current Price: ~3024
Target 1: 3010
Target 2: 3000 (Psychological Level)
Target 3: 2980
Final Target Zone: 2960 โ 2970
Action Plan:
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Bearish confirmation after neckline retest.
โ
Targeting ~2.10% downside.
โ Watch for reactions near the target zone.
Risk management is key โ stay disciplined! It looks like gold has broken its ascending channel, signaling a potential correction or consolidation. Based on My technical analysis targets, the key support levels to watch are:
$3,000 โ Psychological level, could act as support/resistance.
$2,982 โ Minor support within the current price action.
$2,955 โ Potential bounce zone if selling pressure increases.
$2,924 โ Deeper retracement, aligning with past structure.
$2,883 โ Stronger support, where buyers may step in.
A break below these levels could indicate further downside, while a bounce from any of these could lead to a recovery. Do you see any confluence with moving averages or Fibonacci levels in your analysis?