🟡 XAUUSD – 1H Analysis (April 10, 2025)
🔍 Structure & Price Action:
Gold is trading within a clearly defined ascending channel.
Price recently tested the upper boundary of the channel near $3,120 but failed to break higher — signaling potential exhaustion.
Now, price is stalling and showing signs of weakness at resistance.
📉 Bearish Bias Signs:
Rejection at $3,120 zone (marked by your blue arrow) aligns with previous key resistance.
Volume is declining as price moves higher — a classic divergence between momentum and price.
A clean break below the channel support will likely trigger downside movement.
📊 RSI:
RSI currently at 60, showing bearish divergence – momentum is fading while price made higher highs.
RSI is turning down, which supports a short-term correction.
🔵 Key Levels to Watch:
Resistance: $3,120
Support: $3,043 → this is your likely first target if breakdown confirms
Major Support Zone: Below $3,043, expect stronger buyers near $3,000–3,020
🎯 Trade Idea (If Breakdown Confirms):
Sell below: $3,100 (with confirmation candle close below channel)
TP1: $3,043
TP2: $3,015
SL: Above $3,122
(Optional: Tighten SL if price quickly rejects $3,110 again)
🔍 Structure & Price Action:
Gold is trading within a clearly defined ascending channel.
Price recently tested the upper boundary of the channel near $3,120 but failed to break higher — signaling potential exhaustion.
Now, price is stalling and showing signs of weakness at resistance.
📉 Bearish Bias Signs:
Rejection at $3,120 zone (marked by your blue arrow) aligns with previous key resistance.
Volume is declining as price moves higher — a classic divergence between momentum and price.
A clean break below the channel support will likely trigger downside movement.
📊 RSI:
RSI currently at 60, showing bearish divergence – momentum is fading while price made higher highs.
RSI is turning down, which supports a short-term correction.
🔵 Key Levels to Watch:
Resistance: $3,120
Support: $3,043 → this is your likely first target if breakdown confirms
Major Support Zone: Below $3,043, expect stronger buyers near $3,000–3,020
🎯 Trade Idea (If Breakdown Confirms):
Sell below: $3,100 (with confirmation candle close below channel)
TP1: $3,043
TP2: $3,015
SL: Above $3,122
(Optional: Tighten SL if price quickly rejects $3,110 again)
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.
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.