This chart is a 4-hour candlestick chart for XAU/USD (Gold vs. US Dollar) from TradingView. Here's a detailed breakdown of the chart elements and technical analysis features:
Chart Overview:
Instrument: XAU/USD (Gold)
Timeframe: 4-Hour
Current Price (at time of snapshot): ~3370.165
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Highlighted Zones (Yellow Boxes):
1. Upper Resistance Zone (around 3420–3430):
This is a strong resistance area where price has reversed previously.
2. Mid Supply/Resistance Zone (around 3365–3380):
This zone has acted as both support and resistance multiple times, indicating high trading interest.
3. Lower Demand Zone (around 3300–3320):
This is a support area where previous downward moves have been halted.
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Key Technical Patterns:
1. Bearish Move 1 (Left Blue Arrow):
Price fell by 60.263 points (-1.79%)
Broke through the mid-support zone and found support at the lower demand zone.
2. Bearish Move 2 (Right Blue Arrow):
A more recent drop of 75.530 points (-2.23%)
Also from the same mid-resistance zone to the same lower demand zone, suggesting a repeat pattern.
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Current Context:
Price is retesting the mid supply zone (around 3370) after a sharp drop.
The market may be forming a bearish continuation pattern, given the repeated rejection from this zone.
The horizontal yellow zones are critical areas to watch for potential breakout or reversal.
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Possible Interpretations:
If price fails to break above the 3375 zone again, a third drop toward 3300–3320 is likely.
A breakout above 3375–3380 with strong volume could signal a reversal toward 3420+.
Would you like help interpreting the next potential move or setting up a trade strategy from this chart?
Chart Overview:
Instrument: XAU/USD (Gold)
Timeframe: 4-Hour
Current Price (at time of snapshot): ~3370.165
---
Highlighted Zones (Yellow Boxes):
1. Upper Resistance Zone (around 3420–3430):
This is a strong resistance area where price has reversed previously.
2. Mid Supply/Resistance Zone (around 3365–3380):
This zone has acted as both support and resistance multiple times, indicating high trading interest.
3. Lower Demand Zone (around 3300–3320):
This is a support area where previous downward moves have been halted.
---
Key Technical Patterns:
1. Bearish Move 1 (Left Blue Arrow):
Price fell by 60.263 points (-1.79%)
Broke through the mid-support zone and found support at the lower demand zone.
2. Bearish Move 2 (Right Blue Arrow):
A more recent drop of 75.530 points (-2.23%)
Also from the same mid-resistance zone to the same lower demand zone, suggesting a repeat pattern.
---
Current Context:
Price is retesting the mid supply zone (around 3370) after a sharp drop.
The market may be forming a bearish continuation pattern, given the repeated rejection from this zone.
The horizontal yellow zones are critical areas to watch for potential breakout or reversal.
---
Possible Interpretations:
If price fails to break above the 3375 zone again, a third drop toward 3300–3320 is likely.
A breakout above 3375–3380 with strong volume could signal a reversal toward 3420+.
Would you like help interpreting the next potential move or setting up a trade strategy from this chart?
t.me/goldsignalsclub3
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t.me/goldsignalsclub3
Join my telegram for free signals link in below
t.me/goldsignalsclub3
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.
t.me/goldsignalsclub3
Join my telegram for free signals link in below
t.me/goldsignalsclub3
Join my telegram for free signals link in below
t.me/goldsignalsclub3
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.