This chart represents a technical analysis of Gold (XAU/USD) on the 1-hour timeframe. Here's what it suggests:
Key Observations
1. Trend & Price Action:
Two bullish channels (marked in blue) show previous uptrends.
Price broke out of these channels sharply, leading to a strong downtrend.
2. Resistance & Support Levels:
$2,942.35 and $2,928.70 are resistance zones where price previously rejected.
$2,887.82 is a support zone, marking the 400-pip drop from the resistance area.
3. Breakdown & Price Projection:
After testing resistance, price dropped aggressively, as indicated by the downward arrows.
The chart suggests a potential retracement before continuing downward toward $2,887.82.
Conclusion
This chart highlights a successful short trade setup on Gold, capturing 400 pips. It shows a bearish continuation pattern, with possible minor pullbacks before further downside.
Are you planning to share this as a trade recap or looking for the next setup?
Key Observations
1. Trend & Price Action:
Two bullish channels (marked in blue) show previous uptrends.
Price broke out of these channels sharply, leading to a strong downtrend.
2. Resistance & Support Levels:
$2,942.35 and $2,928.70 are resistance zones where price previously rejected.
$2,887.82 is a support zone, marking the 400-pip drop from the resistance area.
3. Breakdown & Price Projection:
After testing resistance, price dropped aggressively, as indicated by the downward arrows.
The chart suggests a potential retracement before continuing downward toward $2,887.82.
Conclusion
This chart highlights a successful short trade setup on Gold, capturing 400 pips. It shows a bearish continuation pattern, with possible minor pullbacks before further downside.
Are you planning to share this as a trade recap or looking for the next setup?
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.