From my chart analysis on XAUUSD (Gold), here's what I observe:
Pattern & Market Structure:
1. Head and Shoulders Pattern
my chart shows a clear head and shoulders pattern, a classic bearish reversal signal.
The price has broken the neckline, confirming potential downside movement.
2. Resistance & Stop-Loss Zone (Red Box)
I have marked a stop-loss zone above the recent highs, meaning if price moves above this, your short trade idea is invalidated.
This area acts as strong resistance, and if price stays below, sellers will likely take control.
3. Support & Target Zone (Green Box)
The green area below suggests your take-profit zone, indicating a bearish expectation towards lower key support levels.
Price may retest the neckline before continuing down.
4. Trend & Confirmation:
If price rejects the red zone and breaks below key support, it confirms bearish momentum
If price reverses and breaks above the red zone, it invalidates the bearish setup.
Trade Idea:
Bearish Bias unless price breaks the red zone.
Entry Confirmation on rejection of resistance.
Profit Target at lower support levels in green
Pattern & Market Structure:
1. Head and Shoulders Pattern
my chart shows a clear head and shoulders pattern, a classic bearish reversal signal.
The price has broken the neckline, confirming potential downside movement.
2. Resistance & Stop-Loss Zone (Red Box)
I have marked a stop-loss zone above the recent highs, meaning if price moves above this, your short trade idea is invalidated.
This area acts as strong resistance, and if price stays below, sellers will likely take control.
3. Support & Target Zone (Green Box)
The green area below suggests your take-profit zone, indicating a bearish expectation towards lower key support levels.
Price may retest the neckline before continuing down.
4. Trend & Confirmation:
If price rejects the red zone and breaks below key support, it confirms bearish momentum
If price reverses and breaks above the red zone, it invalidates the bearish setup.
Trade Idea:
Bearish Bias unless price breaks the red zone.
Entry Confirmation on rejection of resistance.
Profit Target at lower support levels in green
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.