This chart shows a technical analysis setup for Gold Spot (XAU/USD) on the 4-hour timeframe. Here are the key points and interpretation:
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Pattern & Setup
Price Range (Blue Box): The price is consolidating between approximately 3,350 and 3,390, indicating indecision before a potential breakout.
Trendlines: The chart shows a previously broken rising trendline (gray), which has now turned into a resistance zone.
Key Resistance: Around 3,447.24, marked with an “SL” (Stop Loss), suggesting this is the invalidation point for short positions.
Reversal Signals: Red arrows at the top and green arrows at the bottom indicate recent reversal points — this hints at a range-bound or potentially bearish structure.
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Bearish Bias
The arrows and labeling indicate a short (sell) trade bias. If the price breaks below the current consolidation:
Target Points (Support Levels):
1. First Target: 3,315.767
2. Second Target: 3,244.396
3. Third Target: 3,160.504
These levels represent possible take-profit zones in a short scenario.
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Stop Loss
3,447.240 — Above the recent highs. If price breaks above this, the bearish setup is invalidated.
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Conclusion
The chart suggests a short trade setup on gold, targeting the drop from the current range, with defined risk at 3,447.240. Confirmation would come with a breakdown below the current range.
Would you like help setting up a trading plan based on this chart (entry, risk, reward ratio)?
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Pattern & Setup
Price Range (Blue Box): The price is consolidating between approximately 3,350 and 3,390, indicating indecision before a potential breakout.
Trendlines: The chart shows a previously broken rising trendline (gray), which has now turned into a resistance zone.
Key Resistance: Around 3,447.24, marked with an “SL” (Stop Loss), suggesting this is the invalidation point for short positions.
Reversal Signals: Red arrows at the top and green arrows at the bottom indicate recent reversal points — this hints at a range-bound or potentially bearish structure.
---
Bearish Bias
The arrows and labeling indicate a short (sell) trade bias. If the price breaks below the current consolidation:
Target Points (Support Levels):
1. First Target: 3,315.767
2. Second Target: 3,244.396
3. Third Target: 3,160.504
These levels represent possible take-profit zones in a short scenario.
---
Stop Loss
3,447.240 — Above the recent highs. If price breaks above this, the bearish setup is invalidated.
---
Conclusion
The chart suggests a short trade setup on gold, targeting the drop from the current range, with defined risk at 3,447.240. Confirmation would come with a breakdown below the current range.
Would you like help setting up a trading plan based on this chart (entry, risk, reward ratio)?
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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.
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.