🔻 XAU/USD Rising Wedge Breakdown – Bearish Setup Activated
Gold has broken down from a rising wedge pattern near the key resistance zone around $3,311–$3,325, signaling a potential reversal. The rejection from the volume profile’s high activity zone adds further confluence for a short bias.
📉 Entry: $3,311.70
🎯 Target: $3,157.80
🛑 Stop-Loss: $3,374.72
⚖️ Risk/Reward Ratio: 2.44
Technical Highlights:
Rising wedge breakout to the downside
Price failed to sustain above high-volume node
Bearish histogram crossover confirms weakening momentum
Next support sits near $3,155 – a key demand zone from early May
This breakdown could trigger a deeper correction toward the $3,150–$3,120 region unless bulls reclaim the $3,325 level with strength.
Gold has broken down from a rising wedge pattern near the key resistance zone around $3,311–$3,325, signaling a potential reversal. The rejection from the volume profile’s high activity zone adds further confluence for a short bias.
📉 Entry: $3,311.70
🎯 Target: $3,157.80
🛑 Stop-Loss: $3,374.72
⚖️ Risk/Reward Ratio: 2.44
Technical Highlights:
Rising wedge breakout to the downside
Price failed to sustain above high-volume node
Bearish histogram crossover confirms weakening momentum
Next support sits near $3,155 – a key demand zone from early May
This breakdown could trigger a deeper correction toward the $3,150–$3,120 region unless bulls reclaim the $3,325 level with strength.
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.
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.