XAUUSD Gold is showing signs of weakness, and I anticipate further losses in the coming days.At the last peak, we formed a clear bearish engulfing candle, signaling a potential trend shift. Following this, the price is now retesting the resistance zone at the previous high while also sweeping the remaining side liquidity.
🔸 Key Levels to Watch:
📍 If the price takes out Tuesday’s high (13.03), I will look for confirmation to enter a sell trade targeting the Equal Low—as highlighted in the chart.
⚠️ Potential Scenario: If resistance holds, we could see a strong downside move. However, if bulls regain control, a breakout above resistance might change the outlook.
📉 Do you agree with this setup, or do you see a different scenario? Let me know in the comments! Your thoughts are always welcome. 👇🔥
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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.