🔍 Technical Breakdown
🟦 1. Rising Wedge Pattern (Bearish)
The price has been moving within a tightening upward channel — forming higher highs and higher lows, but with decreasing momentum. This is a typical Rising Wedge, a pattern that signals exhaustion in an uptrend and typically resolves to the downside.
The pattern formed over several days.
Volume has been declining as the price pushed higher — a classic sign of weakening trend strength.
🚨 2. Major Resistance Zone
The wedge culminated near a major historical resistance zone (around 1.1400), which price failed to break multiple times — showing strong seller presence. This adds confluence to the bearish breakdown.
📉 3. Breakdown & Retest
Price broke below the lower wedge trendline, confirming the bearish reversal. After the breakdown, the pair appears to be retesting the previous support line — now acting as new resistance.
This retest is crucial — a successful rejection here typically confirms the breakdown and provides an ideal entry point for short positions.
⚡ Volume Clues
Note the "Volume Burst" earlier in the chart, followed by a sharp move up. But that rally was unsustainable — buyers couldn’t hold above resistance, and volume has since faded. This volume exhaustion is further evidence that bullish momentum is weakening.
🔄 Key Support Zones Below
Around 1.1200: A strong SR flip zone (support-turned-resistance), which could act as temporary support.
Final Bearish Target: Around 1.1070, a strong demand zone where price previously consolidated before the last bullish run.
This is the measured move target from the wedge height applied to the breakdown point.
🧠 Why This Matters (Trader Insight)
This setup combines:
A reliable bearish pattern (rising wedge)
Key horizontal resistance
A volume drop
A clean retest structure
That makes it a high-confluence short trade idea. These patterns don't always play out immediately, but when they do, they often drop hard.
📌 Trade Setup Summary
Bias: Bearish
Pattern: Rising Wedge (broken)
Current Action: Retesting the broken wedge
Entry Zone: 1.135–1.138 (retest confirmation)
First Target: 1.1200 (SR Flip)
Final Target: 1.1070 (Demand Zone)
Invalidation: Break and hold above 1.1410
🟦 1. Rising Wedge Pattern (Bearish)
The price has been moving within a tightening upward channel — forming higher highs and higher lows, but with decreasing momentum. This is a typical Rising Wedge, a pattern that signals exhaustion in an uptrend and typically resolves to the downside.
The pattern formed over several days.
Volume has been declining as the price pushed higher — a classic sign of weakening trend strength.
🚨 2. Major Resistance Zone
The wedge culminated near a major historical resistance zone (around 1.1400), which price failed to break multiple times — showing strong seller presence. This adds confluence to the bearish breakdown.
📉 3. Breakdown & Retest
Price broke below the lower wedge trendline, confirming the bearish reversal. After the breakdown, the pair appears to be retesting the previous support line — now acting as new resistance.
This retest is crucial — a successful rejection here typically confirms the breakdown and provides an ideal entry point for short positions.
⚡ Volume Clues
Note the "Volume Burst" earlier in the chart, followed by a sharp move up. But that rally was unsustainable — buyers couldn’t hold above resistance, and volume has since faded. This volume exhaustion is further evidence that bullish momentum is weakening.
🔄 Key Support Zones Below
Around 1.1200: A strong SR flip zone (support-turned-resistance), which could act as temporary support.
Final Bearish Target: Around 1.1070, a strong demand zone where price previously consolidated before the last bullish run.
This is the measured move target from the wedge height applied to the breakdown point.
🧠 Why This Matters (Trader Insight)
This setup combines:
A reliable bearish pattern (rising wedge)
Key horizontal resistance
A volume drop
A clean retest structure
That makes it a high-confluence short trade idea. These patterns don't always play out immediately, but when they do, they often drop hard.
📌 Trade Setup Summary
Bias: Bearish
Pattern: Rising Wedge (broken)
Current Action: Retesting the broken wedge
Entry Zone: 1.135–1.138 (retest confirmation)
First Target: 1.1200 (SR Flip)
Final Target: 1.1070 (Demand Zone)
Invalidation: Break and hold above 1.1410
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
For Daily Trade Setups and Forecast: 📈 t.me/xauusdoptimizer
Premium Signals Fr33: 💯 t.me/xauusdoptimizer
🥰🥳🤩
Premium Signals Fr33: 💯 t.me/xauusdoptimizer
🥰🥳🤩
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.