This chart of XAU/USD (Gold vs USD) on the 15-minute timeframe shows a clear bearish setup forming after a strong upward channel.
Here’s a quick breakdown:
- Trend Structure: Price was moving within a rising channel, but has now broken below the lower boundary of that channel, signaling a possible shift in trend.
- Triple Top Pattern: Three peaks marked as "TOP 1", "TOP 2", and "TOP 3" suggest a strong resistance zone and bearish reversal potential.
- Break of Structure (BoS): Several BoS labels indicate bearish breaks in market structure, supporting the downside bias.
- Projected Move: The chart suggests a pullback to retest the broken channel and then a continuation downward.
- Bearish Targets: The key downside levels are marked at 3187, 3177, and 3151, which align with previous support zones.
Overall, this chart signals a likely bearish continuation if price respects the retest zone and fails to reclaim the channel.
Here’s a quick breakdown:
- Trend Structure: Price was moving within a rising channel, but has now broken below the lower boundary of that channel, signaling a possible shift in trend.
- Triple Top Pattern: Three peaks marked as "TOP 1", "TOP 2", and "TOP 3" suggest a strong resistance zone and bearish reversal potential.
- Break of Structure (BoS): Several BoS labels indicate bearish breaks in market structure, supporting the downside bias.
- Projected Move: The chart suggests a pullback to retest the broken channel and then a continuation downward.
- Bearish Targets: The key downside levels are marked at 3187, 3177, and 3151, which align with previous support zones.
Overall, this chart signals a likely bearish continuation if price respects the retest zone and fails to reclaim the channel.
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Disclaimer
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🟡 TELEGRAM CHANNEL:
Free Signals With Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
@t.me/daniel9145
Free Signals With Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
@t.me/daniel9145
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.