This 1-hour chart for XAU/USD highlights a key Supply Zone where price action has shown resistance. The market is currently forming a rising trendline, acting as dynamic support.
Key Observations:
Supply Zone: Marked around the $3,030 - $3,040 region, where selling pressure has been observed.
Trendline Support: If the price breaks below the trendline with a strong bearish candle, further downside momentum is expected.
Downside Targets:
Support 1: $2,999.866 (first potential target).
Support 2: $2,978.606 (deeper downside target).
Trade Plan:
A trendline break with a strong bearish close could signal a short opportunity towards the support levels.
If price holds above the trendline, we may see another attempt at the supply zone before a major directional move.
Keep an eye on candlestick confirmation for entry signals!
ALWAYS USE STOPLOSS AND TAKE PROFIT AS WELL AS RISK MANAGEMENT FOR YOUR TRADES.
ITS JUST MY ANALYSIS OR PREDICTION LET'S SEE WHAT WILL HAPPEN IF YOU LIKE MY IDEA SO SUPPORT ME AND BOOST TO APPRECIATES.
Key Observations:
Supply Zone: Marked around the $3,030 - $3,040 region, where selling pressure has been observed.
Trendline Support: If the price breaks below the trendline with a strong bearish candle, further downside momentum is expected.
Downside Targets:
Support 1: $2,999.866 (first potential target).
Support 2: $2,978.606 (deeper downside target).
Trade Plan:
A trendline break with a strong bearish close could signal a short opportunity towards the support levels.
If price holds above the trendline, we may see another attempt at the supply zone before a major directional move.
Keep an eye on candlestick confirmation for entry signals!
ALWAYS USE STOPLOSS AND TAKE PROFIT AS WELL AS RISK MANAGEMENT FOR YOUR TRADES.
ITS JUST MY ANALYSIS OR PREDICTION LET'S SEE WHAT WILL HAPPEN IF YOU LIKE MY IDEA SO SUPPORT ME AND BOOST TO APPRECIATES.
💰 *Bullion Buzz*: Where gold trading meets modern insights—stay ahead in the market with real-time trends and expert tips. ✨
t.me/bullionbuzz
t.me/bullionbuzz
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.
💰 *Bullion Buzz*: Where gold trading meets modern insights—stay ahead in the market with real-time trends and expert tips. ✨
t.me/bullionbuzz
t.me/bullionbuzz
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.