Gold Spot / U.S. Dollar
Short
Updated

XAUUSD Gold Analysis

150
XAUUSD formed a symmetrical triangle pattern (converging trendlines), followed by a breakdown of the ascending trendline, suggesting bearish momentum.

Price has broken below the ascending support trendline and is currently testing a minor consolidation zone, indicating potential for further downside.

🔻 Bearish Setup:
Entry Point:
Current price around $3,223.36, just below the broken ascending trendline.

Ideal sell entry confirmation has occurred with the break of the ascending trendline support.

🎯 Downside Targets:
Target 1:

$3,194.752

This level aligns with previous structure support and is the first take-profit zone.

Target 2:

$3,176.149

A deeper support zone formed by previous price action. If price continues bearish momentum, it will likely react here.

Target 3:

$3,132.646

This is a major support zone and the final take-profit level based on the chart. Reaching here would confirm a full bearish move.

🛑 Stop Loss Placement:
$3,247.014

Placed above the upper resistance trendline and recent swing high. If price breaks above this level, it invalidates the bearish pattern.

📈 Key Chart Details:
Candlestick Behavior: Multiple rejections at the upper trendline suggest strong resistance.

Volume: Volume spike at the breakdown level would further confirm bearish bias (not visible in the current image, but important to monitor).

Risk-Reward: The setup shows a favorable risk-to-reward ratio, especially if holding till Target 3.

⚠️ Potential Considerations:
Watch for fakeouts or retests of the broken trendline. A retest of $3,230-$3,235 could occur before further decline.

Monitor economic news/events like U.S. inflation, Fed announcements, or geopolitical tensions as they heavily impact gold.

✅ Conclusion:
This is a high-probability short setup for XAUUSD, with confirmation from:
Symmetrical triangle breakdown,
Lower highs,
Clear downside targets,
Well-defined stop-loss.

If bearish momentum continues and fundamentals align, gold could slide toward $3,132, completing the full projected move.








Trade closed: stop reached

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