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I'm providing a H-4 Xauusd technical analysis highlighting a Bearish Wedge pattern. Here's a breakdown of the chart elements:
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🔍 Key Chart Features:
1. Bearish Wedge:
The chart shows price action consolidating within a rising wedge.
This is typically a bearish reversal pattern, especially when it forms after an uptrend or in a channel.
A breakdown below the wedge is expected, indicating potential downside.
2. Strong Resistance:
Labeled at the top of a previous price peak.
This level has previously caused price rejections, confirming its significance.
3. Momentum Strategy (MomLE & MomSE):
Indicators showing Momentum Long Entry (MomLE) and Momentum Short Entry (MomSE).
These are probably generated by a custom momentum-based strategy.
4. Projected Price Targets:
Following a breakdown from the wedge, the chart outlines three bearish targets:
Target Label Price Level (Approx.)
Target 1 3286
Target 2 3250
Target 3 3165
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📉 Interpretation:
The setup suggests the price may break down from the wedge and follow a bearish path toward the listed targets.
Confirmation of this move would come from a break below the wedge’s lower trendline, ideally with high volume.
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⚠️ Trading Consideration:
Watch for confirmation before entering a short position.
Set appropriate stop-loss levels, possibly above the wedge resistance or recent highs.
Consider using additional indicators (like RSI, MACD, volume) to confirm the bearish setup.
I'm providing a H-4 Xauusd technical analysis highlighting a Bearish Wedge pattern. Here's a breakdown of the chart elements:
---
🔍 Key Chart Features:
1. Bearish Wedge:
The chart shows price action consolidating within a rising wedge.
This is typically a bearish reversal pattern, especially when it forms after an uptrend or in a channel.
A breakdown below the wedge is expected, indicating potential downside.
2. Strong Resistance:
Labeled at the top of a previous price peak.
This level has previously caused price rejections, confirming its significance.
3. Momentum Strategy (MomLE & MomSE):
Indicators showing Momentum Long Entry (MomLE) and Momentum Short Entry (MomSE).
These are probably generated by a custom momentum-based strategy.
4. Projected Price Targets:
Following a breakdown from the wedge, the chart outlines three bearish targets:
Target Label Price Level (Approx.)
Target 1 3286
Target 2 3250
Target 3 3165
---
📉 Interpretation:
The setup suggests the price may break down from the wedge and follow a bearish path toward the listed targets.
Confirmation of this move would come from a break below the wedge’s lower trendline, ideally with high volume.
---
⚠️ Trading Consideration:
Watch for confirmation before entering a short position.
Set appropriate stop-loss levels, possibly above the wedge resistance or recent highs.
Consider using additional indicators (like RSI, MACD, volume) to confirm the bearish setup.
Trade active
++350 pips running Hold on sell side
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.