"XAU/USD Breakdown from Rising Wedge Pattern – Bearish Target at

📉 Technical Pattern: Rising Wedge (Bearish Reversal)
The chart illustrates a Rising Wedge formation that has developed over the past several sessions. This pattern is typically a bearish reversal signal, especially when it appears after an extended uptrend.

In this case:

The wedge was clearly broken to the downside, signaling a potential shift in momentum from bullish to bearish.

A retest of the wedge’s lower boundary or nearby resistance has occurred (or is anticipated), offering a possible entry point for short positions.

💼 Trade Setup:
Entry Zone: Near the retest of the wedge breakdown (~$3,295–$3,310)

Stop Loss: Above the recent swing high / top of wedge (~$3,366)

Take Profit Target: $3,191.275 (based on prior horizontal support and technical projection)

📊 Price Action & Confirmation:
Price has already started forming lower highs and lower lows post-breakout.

The downside momentum is building, and the rejection near the wedge resistance supports the bearish continuation idea.

Potential short-term consolidation or pullback may occur before the move continues downward.

🎯 Target Justification:
The target aligns with:

Previous structure support (visible consolidation zone)

Potential measured move projection from the wedge height

Psychological round-number zone near $3,190

🛑 Risk Management:
Always follow strict risk management principles. The Risk-Reward Ratio here appears favorable (>2:1), depending on entry precision.

🔍 Summary:
This setup presents a high-probability short opportunity on XAU/USD following a Rising Wedge breakdown. Bearish bias remains valid below the $3,330–$3,366 zone. Traders should monitor for any bullish invalidation signals or unexpected fundamental catalysts (e.g., U.S. economic news, Fed comments)