🔍 Technical Breakdown:
The current market structure on Gold (XAUUSD) is forming a rising wedge, which often signals a potential bearish reversal. Here's a breakdown of the setup:
🔹 Price Action:
We observe a clean ascending structure, with price respecting higher lows.
Price is approaching a strong resistance zone marked around 3242-3246 (red box area), a key supply zone where sellers previously entered with force.
🔹 Liquidity Grab Plan:
Expecting a liquidity sweep or false breakout above the green resistance zone.
A possible "fake out" wick may attract breakout buyers before the real reversal begins.
🔹 Bearish Confirmation Zone:
After liquidity is grabbed, if the price fails to sustain above 3242 and breaks below the mid-level support (blue line ~3230), it confirms bearish pressure.
Ideal entry would be on the retest after the break of the structure.
🎯 Trade Plan (Sell Bias):
✅ Entry Zone: 3242 - 3246 (on liquidity grab)
🎯 Target Zone: 3190 - 3185 (marked by the big green arrow)
📛 Stop Loss: Just above 3246
📈 Risk-Reward: High probability setup based on structure and rejection zone.
⚠️ Note: Wait for confirmation! No need to jump in early. Always manage risk.
💬 What’s your bias on Gold today? Do you think bulls can break through or will bears dominate again? Let's discuss in the comments!
#XAUUSD #Gold #Forex #PriceAction #SupplyAndDemand #LiquidityHunt #ChartAnalysis #BearishSetup #SmartMoney #ForexSignals #TradingViewIdeas
The current market structure on Gold (XAUUSD) is forming a rising wedge, which often signals a potential bearish reversal. Here's a breakdown of the setup:
🔹 Price Action:
We observe a clean ascending structure, with price respecting higher lows.
Price is approaching a strong resistance zone marked around 3242-3246 (red box area), a key supply zone where sellers previously entered with force.
🔹 Liquidity Grab Plan:
Expecting a liquidity sweep or false breakout above the green resistance zone.
A possible "fake out" wick may attract breakout buyers before the real reversal begins.
🔹 Bearish Confirmation Zone:
After liquidity is grabbed, if the price fails to sustain above 3242 and breaks below the mid-level support (blue line ~3230), it confirms bearish pressure.
Ideal entry would be on the retest after the break of the structure.
🎯 Trade Plan (Sell Bias):
✅ Entry Zone: 3242 - 3246 (on liquidity grab)
🎯 Target Zone: 3190 - 3185 (marked by the big green arrow)
📛 Stop Loss: Just above 3246
📈 Risk-Reward: High probability setup based on structure and rejection zone.
⚠️ Note: Wait for confirmation! No need to jump in early. Always manage risk.
💬 What’s your bias on Gold today? Do you think bulls can break through or will bears dominate again? Let's discuss in the comments!
#XAUUSD #Gold #Forex #PriceAction #SupplyAndDemand #LiquidityHunt #ChartAnalysis #BearishSetup #SmartMoney #ForexSignals #TradingViewIdeas
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.
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.