Xauusd Gold sell zone @2858 H4 chart analysisSell Target for XAU/USD
Entry Zone: Around 2,858
Target 1: 2,805 (Support level)
Target 2: 2,688 (Lower support in the upward channel
Trade Plan Summary:
The chart indicates a sell-off from the resistance zone.
A potential retest at 2,900 before further decline.
Key support at 2,805, with a deeper drop to 2,688 if momentum continues.
Would you like additional confirmation with indicators (RSI, moving averages, etc.)? ; This is a technical analysis chart for Gold (XAU/USD) on the 4-hour timeframe. Here are some key observations:
1. Uptrend Structure:
The chart shows a clear bullish momentum with an upward trendline.
A breakout occurred earlier, leading to higher highs.
A triangle pattern formed near the resistance zone.
2. Resistance Zone:
Price has reached a resistance zone around $2,953 - $2,963.
A sell-off happened after the price touched the top.
3. Potential Price Action:
A possible retracement is forming, targeting around $2,900 before further movement.
If price breaks below $2,900, it could test the $2,805 support level.
The overall upward channel remains intact, suggesting potential bullish continuation in the longer term.
Would you like a more detailed analysis or trading suggestions based on this?
