📉
Market Structure & Trend
The chart represents a descending channel where price has continuously rejected from the upper boundary.
Multiple lower highs and lower lows indicate a bearish trend.
Gold/EUR has once again reached the channel resistance and failed to break above, suggesting a strong sell opportunity.
Key Technical Levels
🔴 Resistance:
2,809 - Local resistance where price has faced rejection multiple times.
2,849 - Major resistance level, a break above this could invalidate the bearish outlook.
🟢 Support & Target Levels:
2,790 - Short-term support; if broken, further downside is expected.
2,740 - First key target where previous demand is present.
2,660 - Major support and final bearish target if selling pressure continues.
Trade Setup & Strategy
📍 Sell Below: 2,790
🎯 Target 1: 2,740
🎯 Target 2: 2,660
❌ Stop-Loss: Above 2,810
Conclusion
Bearish bias remains strong as long as price stays below 2,809.
A breakdown below 2,790 could accelerate selling pressure.
Traders can look for bearish confirmation signals (e.g., break of structure, candlestick patterns) to enter short positions.
Would you like a refined strategy based on lower timeframes?
Market Structure & Trend
The chart represents a descending channel where price has continuously rejected from the upper boundary.
Multiple lower highs and lower lows indicate a bearish trend.
Gold/EUR has once again reached the channel resistance and failed to break above, suggesting a strong sell opportunity.
Key Technical Levels
🔴 Resistance:
2,809 - Local resistance where price has faced rejection multiple times.
2,849 - Major resistance level, a break above this could invalidate the bearish outlook.
🟢 Support & Target Levels:
2,790 - Short-term support; if broken, further downside is expected.
2,740 - First key target where previous demand is present.
2,660 - Major support and final bearish target if selling pressure continues.
Trade Setup & Strategy
📍 Sell Below: 2,790
🎯 Target 1: 2,740
🎯 Target 2: 2,660
❌ Stop-Loss: Above 2,810
Conclusion
Bearish bias remains strong as long as price stays below 2,809.
A breakdown below 2,790 could accelerate selling pressure.
Traders can look for bearish confirmation signals (e.g., break of structure, candlestick patterns) to enter short positions.
Would you like a refined strategy based on lower timeframes?
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.
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.