Gold (XAU/USD) 1-Hour Chart Analysis: Bearish Flag & Key Breakou
Gold (XAU/USD) 1-Hour Chart Analysis
1. Trend Overview:
The chart displays Gold Spot (XAU/USD) on a 1-hour timeframe.
A Bearish Flag pattern is identified, which is typically a continuation pattern signaling a potential downward move.
Current Price: 2,882.960
Exponential Moving Average (DEMA 9): 2,882.392, which is almost at the current price level, indicating indecision.
2. Key Price Zones:
Yellow Box (Consolidation Zone):
The price has been consolidating within this highlighted range, suggesting accumulation or distribution.
A breakout in either direction will determine the next move.
Support & Resistance:
Support Levels:
2,860 (Lower boundary of consolidation)
2,840 (Previous key level)
Resistance Levels:
2,920 (Upper boundary of consolidation)
2,940-2,960 (Trendline resistance)
3. Trendlines & Price Action:
Green Trendline (Uptrend Support): Price is still above this, meaning the uptrend is not yet broken.
Red & Blue Trendlines (Bearish Reversal): The price is below these trendlines, indicating a potential downward momentum.
4. Trading Scenarios:
Bearish Breakdown:
If price breaks below the yellow zone and green trendline support, it could confirm further downside.
Target: 2,860 → 2,840
Bullish Reversal:
If price breaks above 2,920 and holds, a bullish reversal is possible.
Target: 2,940 → 2,960
Conclusion:
Neutral to Bearish Bias: The Bearish Flag suggests a possible downward move, but confirmation is needed.
1. Trend Overview:
The chart displays Gold Spot (XAU/USD) on a 1-hour timeframe.
A Bearish Flag pattern is identified, which is typically a continuation pattern signaling a potential downward move.
Current Price: 2,882.960
Exponential Moving Average (DEMA 9): 2,882.392, which is almost at the current price level, indicating indecision.
2. Key Price Zones:
Yellow Box (Consolidation Zone):
The price has been consolidating within this highlighted range, suggesting accumulation or distribution.
A breakout in either direction will determine the next move.
Support & Resistance:
Support Levels:
2,860 (Lower boundary of consolidation)
2,840 (Previous key level)
Resistance Levels:
2,920 (Upper boundary of consolidation)
2,940-2,960 (Trendline resistance)
3. Trendlines & Price Action:
Green Trendline (Uptrend Support): Price is still above this, meaning the uptrend is not yet broken.
Red & Blue Trendlines (Bearish Reversal): The price is below these trendlines, indicating a potential downward momentum.
4. Trading Scenarios:
Bearish Breakdown:
If price breaks below the yellow zone and green trendline support, it could confirm further downside.
Target: 2,860 → 2,840
Bullish Reversal:
If price breaks above 2,920 and holds, a bullish reversal is possible.
Target: 2,940 → 2,960
Conclusion:
Neutral to Bearish Bias: The Bearish Flag suggests a possible downward move, but confirmation is needed.
Trade closed: target reached
🎯 ANOTHER WINNING ANALYSIS! 🎯
🔥 Bearish Flag Played Out PERFECTLY! 🔥
Patience and strategy paid off! Our bearish flag formation broke down exactly as expected, and we hit our target levels beautifully. 📉✅
This is why we follow technical analysis and trust the process! More setups coming—let’s keep this momentum going! 🚀
💬 Who caught this move with me? Drop a comment below! ⬇️
#ForexTrading #XAUUSD #GoldTrading #TechnicalAnalysis #TradingSuccess
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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.
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.