The chart you've provided is a 30-minute (30M) technical analysis of XAU/USD (Gold vs. US Dollar), and it presents a bearish setup suggesting a sell trade with the following key elements:
📝 Key Details from the Chart:
Chart Type: 30-minute (short-term intraday)
Instrument: XAU/USD (Gold Spot)
Current Price: ~$3,354.61
Entry Level: ~3,366.42
Resistance Point: ~3,420
Target Point: ~3,310 (highlighted support zone)
Pattern Suggestion: Price has hit a resistance point and is forming a bearish reversal with a sharp downward movement breaking below the Ichimoku cloud.
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📉 Trade Idea Breakdown:
Sell Entry: Below 3,366.42 (confirmed break below Ichimoku cloud and recent structure)
Target Area: Around 3,310 (marked with a purple support zone)
Stop-Loss (Implied): Could be set above the recent high near the resistance (~3,420), depending on your risk tolerance.
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🔍 Technical Indicators/Clues:
Ichimoku Cloud: Price has broken below the cloud, indicating a potential bearish momentum shift.
Trendline Break: A clear uptrend was broken, which further supports the bearish outlook.
Volume (not shown): Volume confirmation would strengthen the setup.
Resistance Rejection: Price sharply rejected the resistance, adding weight to the reversal idea.
📝 Key Details from the Chart:
Chart Type: 30-minute (short-term intraday)
Instrument: XAU/USD (Gold Spot)
Current Price: ~$3,354.61
Entry Level: ~3,366.42
Resistance Point: ~3,420
Target Point: ~3,310 (highlighted support zone)
Pattern Suggestion: Price has hit a resistance point and is forming a bearish reversal with a sharp downward movement breaking below the Ichimoku cloud.
---
📉 Trade Idea Breakdown:
Sell Entry: Below 3,366.42 (confirmed break below Ichimoku cloud and recent structure)
Target Area: Around 3,310 (marked with a purple support zone)
Stop-Loss (Implied): Could be set above the recent high near the resistance (~3,420), depending on your risk tolerance.
---
🔍 Technical Indicators/Clues:
Ichimoku Cloud: Price has broken below the cloud, indicating a potential bearish momentum shift.
Trendline Break: A clear uptrend was broken, which further supports the bearish outlook.
Volume (not shown): Volume confirmation would strengthen the setup.
Resistance Rejection: Price sharply rejected the resistance, adding weight to the reversal idea.
Trade active
Target done 570 pips Trade closed: target reached
all target done570 pips
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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.