Key Elements on the Chart:
1. Selling Area (Demand/Supply Zone):
• The blue box labeled “SELLING AREA” near the bottom suggests an area of institutional buying or support. Price previously bounced from here.
2. Entry Point for Short Trade:
• There’s a blue highlighted vertical box labeled “ENTRY POINT” which marks the suggested zone where traders might enter a short position.
• The label “PRICE CAN RETRACE FROM THIS AREA” suggests this is a potential reversal zone.
3. Price Movement:
• The chart shows that the price reached a high around 3,325 and started declining.
• Multiple CHoCH (Change of Character) and BOS (Break of Structure) annotations indicate the shift from bullish to bearish structure.
4. Target Zone:
• A target area near 3,260 is marked, with the annotation “-60.711 (-1.82%)”, showing the potential move downward and profit target.
5. XAUUSD (Gold) Signal Box:
• A large box at the top reinforces that this is a short trade idea based on gold’s potential bearish setup.
Summary:
This chart signals a bearish outlook on XAUUSD, expecting the price to retrace and fall after reaching a supply/resistance zone. Traders are likely being advised to:
• Enter a sell around the entry point.
• Set a stop loss slightly above the entry area.
• Take profit in the “SELLING AREA” zone, near the 3,260 level.
1. Selling Area (Demand/Supply Zone):
• The blue box labeled “SELLING AREA” near the bottom suggests an area of institutional buying or support. Price previously bounced from here.
2. Entry Point for Short Trade:
• There’s a blue highlighted vertical box labeled “ENTRY POINT” which marks the suggested zone where traders might enter a short position.
• The label “PRICE CAN RETRACE FROM THIS AREA” suggests this is a potential reversal zone.
3. Price Movement:
• The chart shows that the price reached a high around 3,325 and started declining.
• Multiple CHoCH (Change of Character) and BOS (Break of Structure) annotations indicate the shift from bullish to bearish structure.
4. Target Zone:
• A target area near 3,260 is marked, with the annotation “-60.711 (-1.82%)”, showing the potential move downward and profit target.
5. XAUUSD (Gold) Signal Box:
• A large box at the top reinforces that this is a short trade idea based on gold’s potential bearish setup.
Summary:
This chart signals a bearish outlook on XAUUSD, expecting the price to retrace and fall after reaching a supply/resistance zone. Traders are likely being advised to:
• Enter a sell around the entry point.
• Set a stop loss slightly above the entry area.
• Take profit in the “SELLING AREA” zone, near the 3,260 level.
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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.