This is a 4-hour XAU/USD (Gold vs US Dollar) chart from TradingView, showing a bearish setup with marked support/resistance zones and a potential short trade setup. Here's a detailed breakdown:
---
🔍 Chart Analysis:
📉 Trend Overview:
The market recently had a downward trend, with lower highs and lower lows forming after peaking around June 17–18.
A minor retracement or pullback is occurring now, but the overall bias remains bearish.
---
📊 Key Levels (Highlighted in Yellow):
1. Resistance Zone (~3400):
This zone marks previous highs before the recent drop.
Acts as a supply area where price struggled to go higher.
2. Mid-Level Support/Resistance (~3330):
Price previously bounced from this zone and now broke below it.
Currently acting as a retest area (resistance).
3. Major Support Zone (~3290–3300):
Price bounced from here multiple times, making it a strong demand zone.
Marked as potential take-profit area for the short trade.
---
🧾 Trade Setup:
Entry (Sell): Around 3350 (current level).
Stop Loss: ~3350–3360 area (above recent highs/pullback).
Take Profit: ~3293 zone (previous strong support).
Risk-Reward: Favorable, with a good R:R ratio visible on the chart.
---
📉 Bearish Signal:
The price is showing rejection from resistance with a wick and possible bearish candle formation.
The black arrow suggests anticipated downward continuation targeting the next support.
---
⚠️ Conclusion:
This is a bearish continuation setup, expecting the price to drop toward the lower support (~3290).
As always, monitor fundamental factors (like U.S. economic news — icons suggest events) that could impact volatility.
Let me know if you’d like this turned into a trade journal entry or get live support/resistance values.
---
🔍 Chart Analysis:
📉 Trend Overview:
The market recently had a downward trend, with lower highs and lower lows forming after peaking around June 17–18.
A minor retracement or pullback is occurring now, but the overall bias remains bearish.
---
📊 Key Levels (Highlighted in Yellow):
1. Resistance Zone (~3400):
This zone marks previous highs before the recent drop.
Acts as a supply area where price struggled to go higher.
2. Mid-Level Support/Resistance (~3330):
Price previously bounced from this zone and now broke below it.
Currently acting as a retest area (resistance).
3. Major Support Zone (~3290–3300):
Price bounced from here multiple times, making it a strong demand zone.
Marked as potential take-profit area for the short trade.
---
🧾 Trade Setup:
Entry (Sell): Around 3350 (current level).
Stop Loss: ~3350–3360 area (above recent highs/pullback).
Take Profit: ~3293 zone (previous strong support).
Risk-Reward: Favorable, with a good R:R ratio visible on the chart.
---
📉 Bearish Signal:
The price is showing rejection from resistance with a wick and possible bearish candle formation.
The black arrow suggests anticipated downward continuation targeting the next support.
---
⚠️ Conclusion:
This is a bearish continuation setup, expecting the price to drop toward the lower support (~3290).
As always, monitor fundamental factors (like U.S. economic news — icons suggest events) that could impact volatility.
Let me know if you’d like this turned into a trade journal entry or get live support/resistance values.
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.
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.