XAUUSD 1H
This is a 1-hour chart of Gold (XAU/USD), showing key levels and a recent rejection from the supply zone (blue area) around 2,942.780.
Market Breakdown:
• Supply Zone (Resistance): ~2,942.780
• Key Intraday Resistance: 2,914.365
• Current Price: 2,900.820
• Recent Move: Sharp drop from the supply zone, followed by a minor recovery.
Potential Trade Setups:
1. Bearish Case:
• If price rejects from 2,914–2,917, it could be a good shorting opportunity back to 2,880–2,870.
• Watch for bearish candlestick patterns (e.g., engulfing, pin bars) near 2,914.
2. Bullish Case:
• If price reclaims 2,914, it could push back into the supply zone (2,942-2,945).
• Look for higher lows and strong bullish candles before entering longs.
Final Thoughts:
• Bias: Bearish below 2,914, Bullish above 2,917.
• Trading Plan: Wait for confirmation at key levels before entering.
Market Breakdown:
• Supply Zone (Resistance): ~2,942.780
• Key Intraday Resistance: 2,914.365
• Current Price: 2,900.820
• Recent Move: Sharp drop from the supply zone, followed by a minor recovery.
Potential Trade Setups:
1. Bearish Case:
• If price rejects from 2,914–2,917, it could be a good shorting opportunity back to 2,880–2,870.
• Watch for bearish candlestick patterns (e.g., engulfing, pin bars) near 2,914.
2. Bullish Case:
• If price reclaims 2,914, it could push back into the supply zone (2,942-2,945).
• Look for higher lows and strong bullish candles before entering longs.
Final Thoughts:
• Bias: Bearish below 2,914, Bullish above 2,917.
• Trading Plan: Wait for confirmation at key levels before entering.
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.