XAU/USD 2h chart pattern.

kelmarin

I'm provided for XAUUSD (Gold Spot / U.S. Dollar) on the 2-hour timeframe, here's the analysis:


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📉 Chart Pattern Insight

A clear ascending channel was forming.

Price broke below the lower trendline (highlighted in orange), signaling a potential bearish breakdown.

The price is currently retesting the broken trendline and starting to reject it — a bearish sign.



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🎯 Target Levels Identified on Chart

You’ve marked two bearish targets with arrows:

1. First Target: Around $3,280

This aligns with a previous minor support area.

A reasonable short-term target after the trendline break.



2. Second (Deeper) Target: Around $3,245

Likely based on the full height of the channel projected downward (measured move).

This level could be the next major support.





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📌 Summary:

Target Price Level Confidence

First Target ~$3,280 Medium-High
Final Target ~$3,245 Medium



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Let me know if you'd like help setting stop-loss levels, trade management tips, or a risk-reward calculation based on your entry.

kelmarin

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