XAUUSD / TRADING UNDER DOWNWARD PRESSURE / 4H
Updated
XAUUSD / 4H TIME FRAME
HELLO TRADERS
Prices are currently under downward pressure, indicating a bearish sentiment ,The current price movement is attempting to approach a resistance level of $2,630.
Scenarios and Levels , If prices stabilize below $2,630, it suggests further declines:
• First target: $2,604.
• Second target: $2,587.
• Breaking the resistance level of $2,630 suggests:
• First upward target: $2,661.
• Second upward target: $2,678.
Conditions for Movement, Stabilization below $2,678 , Suggests prices will likely decline , Stabilization above $2,678 , Indicates a possible continuation of upward momentum.
Overall Range , The expected trading range is between $2,716 (upper limit) and $2,542 (lower limit).
HELLO TRADERS
Prices are currently under downward pressure, indicating a bearish sentiment ,The current price movement is attempting to approach a resistance level of $2,630.
Scenarios and Levels , If prices stabilize below $2,630, it suggests further declines:
• First target: $2,604.
• Second target: $2,587.
• Breaking the resistance level of $2,630 suggests:
• First upward target: $2,661.
• Second upward target: $2,678.
Conditions for Movement, Stabilization below $2,678 , Suggests prices will likely decline , Stabilization above $2,678 , Indicates a possible continuation of upward momentum.
Overall Range , The expected trading range is between $2,716 (upper limit) and $2,542 (lower limit).
Trade active
UPDATE
Previous Price Movement:
• Prices declined, yielding a profit of +160 pips (a pip is a unit of movement in trading, often used in forex).
• Indicates a bearish trend (downward movement).
Current Price Action:
• The price is attempting to stabilize around $2,657 and $2,661.
• If it remains below these levels, a further decline is expected.
Expected Levels:
• Downward targets include $2,630 (resistance level) and $2,604 if resistance is broken.
• The analysis suggests a continued downward trend unless certain levels are broken.
Potential Upside:
• If the price breaks above $2,661, it may rise toward $2,678.
Analysis:
• Bearish Sentiment: The overall tone suggests downward pressure on the asset unless the $2,661 level is breached.
• Key Levels:
• $2,657 and $2,661 are critical levels for stabilization.
• $2,630 and $2,604 are downside targets.
• $2,678 is the target for a bullish breakout above $2,661.
• Technical Implication: This suggests a trading strategy focused on key support and resistance levels, with a possible reversal if upward momentum gains strength.
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