XAUUSD – Rising Wedge Breakdown & Head and Shoulders Formation

1 Apr

Gold (XAUUSD) is showing signs of a potential bearish reversal on the 30-minute chart following a Rising Wedge breakdown and a Head and Shoulders pattern formation.

Technical Analysis:

Rising Wedge pattern suggests exhaustion in the uptrend.
Head and Shoulders structure signals a shift in momentum towards the downside.
Key Support Zone: $3,100 - $3,080 (Potential target).
If price breaks below the neckline, further downside pressure is expected.

Fundamental Outlook:
US Dollar strength and bond yields can pressure gold prices.
Geopolitical tensions and inflation fears may limit downside movement.

Market awaiting key macroeconomic data for further direction.
A break below $3,120 could trigger further selling, targeting $3,100 - $3,080 levels. However, a rebound above $3,140 could invalidate the bearish setup. Watch price action carefully

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1 Apr

Dagangan ditutup: sasaran tercapai

Trade Closed: +300 Pips Profit!

Our short position on XAUUSD hit the target as the Rising Wedge and Head & Shoulders played out, confirming the bearish move. Locked in 300+ pips profit!

Next Steps:
Monitor for reversal or continuation.
Look for new setups at key levels.
Stay updated on fundamentals.

Great trade—on to the next!