🔎 Market Overview:
Gold (XAU/USD) has faced a strong rejection from the $3,141 - $3,150 supply zone, indicating a potential bearish move ahead. The rejection was accompanied by increased selling pressure, pushing the price below $3,130.
🔹 Key Resistance: $3,141 - $3,150 (Supply Zone)
🔹 Current Price: $3,128
🔹 Key Support Levels: $3,088 | $3,030
📉 Bearish Breakdown:
1️⃣ Failed Breakout Attempt:
Price reached the high of $3,150 but failed to hold above it.
A strong rejection in this zone signals that institutional sellers are active.
2️⃣ Lower High Formation:
The price structure shows a series of lower highs, confirming bearish intent.
This suggests potential downside movement unless bulls regain control.
3️⃣ Key Support at $3,088:
This level has previously acted as a strong demand zone.
A breakdown below it could accelerate selling pressure.
4️⃣ Final Target: $3,030 Demand Zone:
If the price fails to hold above $3,088, we could see a further drop to $3,030, where major buying interest exists.
📊 Trading Plan:
📍 Bearish Setup:
🔹 If price retests and rejects $3,141 - $3,150 again, it presents a short opportunity targeting $3,088 first.
🔹 A confirmed break below $3,088 could trigger a deeper decline toward $3,030 - $3,020.
📍 Bullish Setup:
🔹 If price holds $3,088, buyers may push back towards $3,141 for another test.
🔹 A breakout above $3,150 would invalidate the bearish setup and open the door to higher prices.
🔥 Will gold continue its downward move, or will buyers step in at support? Drop your thoughts in the comments!
📊 Like & Follow for more trade ideas! 🚀
#gold #XAUUSD #forextrading #technicalanalysis #priceaction #daytrading #supplyanddemand
Gold (XAU/USD) has faced a strong rejection from the $3,141 - $3,150 supply zone, indicating a potential bearish move ahead. The rejection was accompanied by increased selling pressure, pushing the price below $3,130.
🔹 Key Resistance: $3,141 - $3,150 (Supply Zone)
🔹 Current Price: $3,128
🔹 Key Support Levels: $3,088 | $3,030
📉 Bearish Breakdown:
1️⃣ Failed Breakout Attempt:
Price reached the high of $3,150 but failed to hold above it.
A strong rejection in this zone signals that institutional sellers are active.
2️⃣ Lower High Formation:
The price structure shows a series of lower highs, confirming bearish intent.
This suggests potential downside movement unless bulls regain control.
3️⃣ Key Support at $3,088:
This level has previously acted as a strong demand zone.
A breakdown below it could accelerate selling pressure.
4️⃣ Final Target: $3,030 Demand Zone:
If the price fails to hold above $3,088, we could see a further drop to $3,030, where major buying interest exists.
📊 Trading Plan:
📍 Bearish Setup:
🔹 If price retests and rejects $3,141 - $3,150 again, it presents a short opportunity targeting $3,088 first.
🔹 A confirmed break below $3,088 could trigger a deeper decline toward $3,030 - $3,020.
📍 Bullish Setup:
🔹 If price holds $3,088, buyers may push back towards $3,141 for another test.
🔹 A breakout above $3,150 would invalidate the bearish setup and open the door to higher prices.
🔥 Will gold continue its downward move, or will buyers step in at support? Drop your thoughts in the comments!
📊 Like & Follow for more trade ideas! 🚀
#gold #XAUUSD #forextrading #technicalanalysis #priceaction #daytrading #supplyanddemand
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✅JOIN FREE SIGNALS t.me/frankfxforextrade
✅FOR VIP DM: t.me/frankfx22
✅ Dbot dbot.frankfxx.com
✅ICMARKETS frankfxx.com/icmarkets
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✅ Dbot dbot.frankfxx.com
✅ICMARKETS frankfxx.com/icmarkets
✅ EXNESS frankfxx.com/exness
✅ DERIV frankfxx.com/deriv
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.