The chart you've shared appears to be a short-term technical analysis of gold (XAU/USD) on a 1-hour timeframe. Here's a breakdown of what's being shown:
Key Levels:
Sell Entry Level: Around 3,340–3,360 — this is a resistance zone where sellers are expected to enter.
Take Profit Level: Around 3,240 — this is the suggested target for short positions.
Chart Features:
Red Arrows: Indicate past resistance points where price reversed or struggled to go higher.
Green Arrows: Mark support levels or price reversal to the upside.
Orange Circles: Highlight strong reaction zones — likely previous demand/support areas.
Blue Box: Represents the suggested short trade range — sell near the top of the box (resistance) and take profit near the bottom (support).
Analysis Summary:
The idea here is to short gold as it approaches the resistance zone.
Based on past price action, there's a high probability of reversal at that level.
The take profit zone aligns with previous consolidation/support areas.
Would you like help setting up this trade with specific entry, stop-loss, and take-profit values?
Key Levels:
Sell Entry Level: Around 3,340–3,360 — this is a resistance zone where sellers are expected to enter.
Take Profit Level: Around 3,240 — this is the suggested target for short positions.
Chart Features:
Red Arrows: Indicate past resistance points where price reversed or struggled to go higher.
Green Arrows: Mark support levels or price reversal to the upside.
Orange Circles: Highlight strong reaction zones — likely previous demand/support areas.
Blue Box: Represents the suggested short trade range — sell near the top of the box (resistance) and take profit near the bottom (support).
Analysis Summary:
The idea here is to short gold as it approaches the resistance zone.
Based on past price action, there's a high probability of reversal at that level.
The take profit zone aligns with previous consolidation/support areas.
Would you like help setting up this trade with specific entry, stop-loss, and take-profit values?
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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.
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.