Chart Analysis & Trade Setup:
This XAU/USD (Gold/US Dollar) Daily Chart presents a bearish reversal pattern as Gold has broken down from a well-formed Rising Wedge, signaling potential downside momentum.
Technical Breakdown:
📌 Rising Wedge Formation – Gold followed a narrowing uptrend, indicating weakening bullish momentum.
📌 CHoCH (Change of Character) – A significant bearish candle closed below the wedge structure, confirming a shift in market structure.
📌 Wave Structure – The market completed a complex corrective WXYXZ pattern, aligning with exhaustion at the top.
📌 Bearish Breakdown – The price has started declining, with strong bearish momentum suggesting further selling pressure.
Key Levels & Trade Plan:
📉 Bearish Target Zones:
🔻 2,727 USD – First key support zone.
🔻 2,655 USD – Strong historical demand zone.
🔻 2,537 USD – Major swing low support.
✅ Potential Trade Setup:
Entry: Below 2,880 USD on breakdown confirmation.
Stop Loss: Above 2,920 USD (wedge breakdown invalidation).
Take Profit: Scale out at 2,727 / 2,655 / 2,537 USD.
This XAU/USD (Gold/US Dollar) Daily Chart presents a bearish reversal pattern as Gold has broken down from a well-formed Rising Wedge, signaling potential downside momentum.
Technical Breakdown:
📌 Rising Wedge Formation – Gold followed a narrowing uptrend, indicating weakening bullish momentum.
📌 CHoCH (Change of Character) – A significant bearish candle closed below the wedge structure, confirming a shift in market structure.
📌 Wave Structure – The market completed a complex corrective WXYXZ pattern, aligning with exhaustion at the top.
📌 Bearish Breakdown – The price has started declining, with strong bearish momentum suggesting further selling pressure.
Key Levels & Trade Plan:
📉 Bearish Target Zones:
🔻 2,727 USD – First key support zone.
🔻 2,655 USD – Strong historical demand zone.
🔻 2,537 USD – Major swing low support.
✅ Potential Trade Setup:
Entry: Below 2,880 USD on breakdown confirmation.
Stop Loss: Above 2,920 USD (wedge breakdown invalidation).
Take Profit: Scale out at 2,727 / 2,655 / 2,537 USD.
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.