XAU/USD – Potential Reversal Zone and Bearish Opportunity
Gold's recent price action on the 1-hour timeframe shows a key formation with multiple swing lows (highlighted in orange), suggesting potential liquidity grabs followed by a bullish retracement. However, the price is now approaching $2,748, which aligns with a significant resistance zone (purple box).
Key Levels and Analysis:
Resistance: $2,748 – This area marks a critical supply zone where selling pressure may increase.
Support Zones:
First support: $2,720
Second support: $2,710 – If the downward move continues, this is the primary target for bears.
Trade Idea:
Sell Entry: Near $2,748 if rejection confirms with bearish candlestick patterns.
Target: $2,710
Risk: A breakout above $2,748 would invalidate the bearish setup.
Risk-to-Reward:
Potential downside: -1.42% (-39 points)
If rejection occurs, we could see a move toward $2,710, offering a nice scalping or intraday trade opportunity.
Gold's recent price action on the 1-hour timeframe shows a key formation with multiple swing lows (highlighted in orange), suggesting potential liquidity grabs followed by a bullish retracement. However, the price is now approaching $2,748, which aligns with a significant resistance zone (purple box).
Key Levels and Analysis:
Resistance: $2,748 – This area marks a critical supply zone where selling pressure may increase.
Support Zones:
First support: $2,720
Second support: $2,710 – If the downward move continues, this is the primary target for bears.
Trade Idea:
Sell Entry: Near $2,748 if rejection confirms with bearish candlestick patterns.
Target: $2,710
Risk: A breakout above $2,748 would invalidate the bearish setup.
Risk-to-Reward:
Potential downside: -1.42% (-39 points)
If rejection occurs, we could see a move toward $2,710, offering a nice scalping or intraday trade opportunity.
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.
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.