* **Timeframe:** 1-Hour (H1)
* **Instrument:** XAU/USD
* **Indicators & Levels Used:**
* EMAs 9 & 21 period
* Key horizontal support/resistance levels
* Pivot levels (weekly, daily, monthly)
* Marked **Buy** at 3322.365 and **Sell** at 3318
* Daily Open: 3372.775
* Daily High: 3414.790
* Daily Close: 3305.980
* Daily Low: 3286.805
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### 🔍 **Technical Analysis:**
#### 1. **Trend Context:**
* The overall **short-term trend** is sideways to slightly bearish.
* Recent price action formed **lower highs and higher lows**, indicating **consolidation**.
* Price is currently trading **below the Daily Open** (bearish intraday bias).
* EMAs are converging, showing **reduced momentum** after prior volatility.
#### 2. **Buy Entry at 3322.365:**
* This is a **reasonable support-retest buy**, taken just above a former demand zone and near the **Daily Close**.
* Likely logic: price bounced from the **3310–3318 support area**, tested the weekly pivot zone and EMAs, signaling a bounce.
* **However**, the proximity to strong resistance at 3340–3350, and lack of strong momentum, suggests this buy was short-lived or scalped.
* **Risk:** Weak buying pressure above this level and failure to reclaim 3340 meant it couldn't reach 3360+.
#### 3. **Sell Entry at 3318:**
* This is a **strategic sell**, probably expecting a break below short-term structure and aiming for the 3300/3288 area.
* Price tested the EMAs and was rejected—classic **pullback entry after lower high**.
* A clear **bearish setup**: break below structure, retest and failure at dynamic resistance.
* **Target zones:**
* 3300 – psychological round number + minor support
* 3288/3278 – structural lows
* 3240 – weekly support and major reaction zone
#### 4. **Key Levels & Zones:**
* **Resistance:**
* 3340: Short-term cap
* 3368 – 3382: Supply area
* 3418 – 3450: Strong resistance, but far from current price
* **Support:**
* 3310 – 3300: Near-term support
* 3288 – 3278: Major demand zone (watch for buy reaction)
* 3240: Weekly support – high-probability reaction zone if reached
#### 5. **EMA Structure:**
* EMAs are turning sideways, but currently acting as dynamic resistance.
* Price attempted to reclaim them during the Asian/early European session but was rejected — bearish signal.
#### 6. **Market Sentiment:**
* Momentum has cooled.
* Failure to maintain above 3340 signals weak bullish conviction.
* With price below daily open and rejecting the EMAs, bias is now **tilted bearish** unless 3340 is reclaimed convincingly.
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### ✅ **Conclusion & Strategy:**
* **Bias:** Bearish below 3340; neutral between 3300–3340; bullish above 3360.
* **If holding short from 3318:** This is a solid entry. Consider partial profits at 3300/3288 and trailing stop to break-even.
* **If looking for re-entry:**
* Sell pullbacks below 3325 if 3300 is broken.
* Buy only with confirmation above 3340 and reclaim of 3360.
* **Upcoming key areas to watch:**
* **3288 – 3278:** Ideal for long entries with tight stops (watch for bounce/candlestick reversal patterns).
* **3368 – 3382:** Strong rejection zone if price reclaims 3340—good for short setups.
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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.