This is a 4-hour chart for Gold Spot/USD (XAU/USD), and the analysis appears to be setting up a potential short (sell) trade. Here's a breakdown of the key elements:
📊 Key Levels Highlighted:
🔴 Sell Zones:
Strong Level for Selling (~3,359.98)
Marked as a high-probability area for price rejection.
Aligns with a bearish Fair Value Gap (FVG D).
Also meets a descending trendline resistance.
Temporary Level for Selling (~3,326.01)
Could act as a short-term resistance if the price fails to break higher.
🟢 Support Zones:
Resistance Become Support (~3,255 range)
This zone was previously resistance and has now flipped to support.
Price recently bounced from this area.
Lower Support Zone (~3,208.61)
Final support area marked as "resistance" from a historical perspective.
Could be a take profit area for a short trade.
🔺 Price Action Setup:
Current Price: 3,316.15
Plan:
Wait for price to reach the strong sell level.
If it shows signs of rejection (e.g. bearish candle patterns or divergence), a short trade could be entered.
Stop Loss: Above the red zone (around 3,392.65).
Take Profit: At or around 3,208.61.
🧠 Analysis Summary:
This is a bearish bias setup based on:
Fair Value Gap (FVG)
Trendline resistance
Supply zone
Previous structure (support/resistance)
📊 Key Levels Highlighted:
🔴 Sell Zones:
Strong Level for Selling (~3,359.98)
Marked as a high-probability area for price rejection.
Aligns with a bearish Fair Value Gap (FVG D).
Also meets a descending trendline resistance.
Temporary Level for Selling (~3,326.01)
Could act as a short-term resistance if the price fails to break higher.
🟢 Support Zones:
Resistance Become Support (~3,255 range)
This zone was previously resistance and has now flipped to support.
Price recently bounced from this area.
Lower Support Zone (~3,208.61)
Final support area marked as "resistance" from a historical perspective.
Could be a take profit area for a short trade.
🔺 Price Action Setup:
Current Price: 3,316.15
Plan:
Wait for price to reach the strong sell level.
If it shows signs of rejection (e.g. bearish candle patterns or divergence), a short trade could be entered.
Stop Loss: Above the red zone (around 3,392.65).
Take Profit: At or around 3,208.61.
🧠 Analysis Summary:
This is a bearish bias setup based on:
Fair Value Gap (FVG)
Trendline resistance
Supply zone
Previous structure (support/resistance)
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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.
Fed up with random trades and no progress? I drop real setups that make sense — not hype. If you're serious about growing, hop into the Telegram group and let’s build something real.
t.me/+galBMpR4FpNiOGI8
t.me/+galBMpR4FpNiOGI8
Related publications
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.