Gold Bearish Setup Within Descending Channel – Targeting Key Sup
Gold (XAUUSD) is trading within a clear descending channel, showing a bearish market structure. The recent break of structure (BOS) and change of character (ChoCH) confirm lower highs and lower lows, reinforcing bearish momentum.
Price is currently approaching the upper boundary of the channel and a prior resistance zone, making it a potential sell area. If price reacts bearishly here, the next target would be the support around 3243, with further downside potential toward the strong low near 3144.
The equilibrium and premium zones above suggest the market remains in a sell bias unless a clear breakout and retest occur above the channel and resistance zone.
take profit (TP) levels for a sell setup on XAUUSD:
TP1: 3,243 – First support zone, aligns with a small demand area
TP2: 3,220 – Mid-level support near previous structure
TP3: 3,144 – Strong low and bottom of the descending channel
These levels follow the bearish structure and assume price respects the upper channel resistance. Use lower time frames to confirm entries (e.g., bearish engulfing, BOS, or rejection wicks).
Price is currently approaching the upper boundary of the channel and a prior resistance zone, making it a potential sell area. If price reacts bearishly here, the next target would be the support around 3243, with further downside potential toward the strong low near 3144.
The equilibrium and premium zones above suggest the market remains in a sell bias unless a clear breakout and retest occur above the channel and resistance zone.
take profit (TP) levels for a sell setup on XAUUSD:
TP1: 3,243 – First support zone, aligns with a small demand area
TP2: 3,220 – Mid-level support near previous structure
TP3: 3,144 – Strong low and bottom of the descending channel
These levels follow the bearish structure and assume price respects the upper channel resistance. Use lower time frames to confirm entries (e.g., bearish engulfing, BOS, or rejection wicks).
Trade active
Congratulations our TP's successfully achieved a market reached 3173.Trade closed: target reached
Congratulations tp3 successfully achieved👍
Join Telegram Channel
Technical chart and signals👇
t.me/+4cnC1c2i5j5iOTI0
Technical chart and signals👇
t.me/+4cnC1c2i5j5iOTI0
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.
Join Telegram Channel
Technical chart and signals👇
t.me/+4cnC1c2i5j5iOTI0
Technical chart and signals👇
t.me/+4cnC1c2i5j5iOTI0
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.