🔻 XAU/USD 4H – Rising Wedge Breakdown Targeting Key Demand Zone
Gold (XAU/USD) has broken down from a rising wedge formation after rejecting the $3,285 resistance level. This bearish breakdown comes with declining momentum on the Squeeze histogram and price falling back below the value area.
📉 Entry: $3,285.15
🎯 Target: $3,122.56
🛑 Stop-Loss: $3,331.44
⚖️ Risk/Reward Ratio: 3.54
📌 Technical Confluences:
Rising wedge breakdown with confirmed close below trendline
Price re-entered low-volume area (thin support zone)
Squeeze histogram shifting from green to red – bearish momentum building
Target aligns with the demand area and prior support at $3,120–$3,125
Gold (XAU/USD) has broken down from a rising wedge formation after rejecting the $3,285 resistance level. This bearish breakdown comes with declining momentum on the Squeeze histogram and price falling back below the value area.
📉 Entry: $3,285.15
🎯 Target: $3,122.56
🛑 Stop-Loss: $3,331.44
⚖️ Risk/Reward Ratio: 3.54
📌 Technical Confluences:
Rising wedge breakdown with confirmed close below trendline
Price re-entered low-volume area (thin support zone)
Squeeze histogram shifting from green to red – bearish momentum building
Target aligns with the demand area and prior support at $3,120–$3,125
GODO Capital Markets
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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.
GODO Capital Markets
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.