Hello traders here's my New XAU/USD idea, what you think on it? share your thoughts in comment section
Gold has printed a New All-Time High at 3045 and is now showing signs of a bearish reversal after breaking down from an Ascending Channel on the 30-min chart. Technicals suggest a pullback is likely toward the key support zone at 3000.
Technical Analysis:
Breakdown from Ascending Channel structure
Price failed to hold above 3040, forming a possible lower high
Short entry with Stop Loss above 3050
Support zone around 3000 as short-term target
Fundamental Note:
Recent highs likely priced in CPI and Fed expectations
Some cooling in bullish momentum as traders lock profits
Bias: Bearish short-term — Expecting correction before any fresh upside
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Gold has printed a New All-Time High at 3045 and is now showing signs of a bearish reversal after breaking down from an Ascending Channel on the 30-min chart. Technicals suggest a pullback is likely toward the key support zone at 3000.
Technical Analysis:
Breakdown from Ascending Channel structure
Price failed to hold above 3040, forming a possible lower high
Short entry with Stop Loss above 3050
Support zone around 3000 as short-term target
Fundamental Note:
Recent highs likely priced in CPI and Fed expectations
Some cooling in bullish momentum as traders lock profits
Bias: Bearish short-term — Expecting correction before any fresh upside
Follow me for more updates and don't forget to share my idea with your friends and family
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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.
join on telegram
t.me/+RuNdZvCfSq0yMTI0
t.me/+RuNdZvCfSq0yMTI0
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.