Dear friends, it's a pleasure to see you again in today's gold trading session.
At present, according to careful observation and technical analysis, we can see that
XAUUSD is showing signs of a slight correction and is likely forming a bearish pennant pattern, consistent with a common continuation candlestick pattern in a downtrend. Specifically:
Previously, the price experienced a strong decline, which plays the role of the “flagpole” of the pattern.
After the drop, the price temporarily moved sideways within a narrow range, gradually narrowing the range and forming a small triangle – characteristic of the consolidation phase in the pennant pattern.
Trading volume also shows a decreasing trend, consistent with the characteristics of this pattern.
With these factors, the current preferred scenario is the continuation of the downtrend, so the Sell position is considered more feasible. I think we could see a move down to $3,155. This area is quite important and could give us a better idea of where the price is headed next.
Just sharing my thoughts on support and resistance, this is not financial advice. Always confirm your setup and manage your risk wisely.
At present, according to careful observation and technical analysis, we can see that
XAUUSD is showing signs of a slight correction and is likely forming a bearish pennant pattern, consistent with a common continuation candlestick pattern in a downtrend. Specifically:Previously, the price experienced a strong decline, which plays the role of the “flagpole” of the pattern.
After the drop, the price temporarily moved sideways within a narrow range, gradually narrowing the range and forming a small triangle – characteristic of the consolidation phase in the pennant pattern.
Trading volume also shows a decreasing trend, consistent with the characteristics of this pattern.
With these factors, the current preferred scenario is the continuation of the downtrend, so the Sell position is considered more feasible. I think we could see a move down to $3,155. This area is quite important and could give us a better idea of where the price is headed next.
Just sharing my thoughts on support and resistance, this is not financial advice. Always confirm your setup and manage your risk wisely.
✅ Up to 85% Win Rate
🔁 8–9 Premium Signals Daily
💰 Consistent Profits – Absolutely FREE
🔥 Join Thousands of Profitable Traders
📈 Don’t Miss the Next Big Move!
🔗 Join Now on Telegram
📲 t.me/+yp68zvUZLqExZmVl
🔁 8–9 Premium Signals Daily
💰 Consistent Profits – Absolutely FREE
🔥 Join Thousands of Profitable Traders
📈 Don’t Miss the Next Big Move!
🔗 Join Now on Telegram
📲 t.me/+yp68zvUZLqExZmVl
Related publications
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.
✅ Up to 85% Win Rate
🔁 8–9 Premium Signals Daily
💰 Consistent Profits – Absolutely FREE
🔥 Join Thousands of Profitable Traders
📈 Don’t Miss the Next Big Move!
🔗 Join Now on Telegram
📲 t.me/+yp68zvUZLqExZmVl
🔁 8–9 Premium Signals Daily
💰 Consistent Profits – Absolutely FREE
🔥 Join Thousands of Profitable Traders
📈 Don’t Miss the Next Big Move!
🔗 Join Now on Telegram
📲 t.me/+yp68zvUZLqExZmVl
Related publications
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.