XAU/USD on the 1-hour chart technical analysis . short setup

The price started with a strong upward trend from a support level around May 4, reaching a resistance zone near 3,430–3,440. After hitting that resistance, the price reversed and started forming a downward trend with lower highs and lower lows.

The chart suggests a short (sell) trade setup around the 3,325–3,330 area, with a stop loss above 3,347 and a take profit around 3,275. This setup is based on the expectation that the price will continue to fall after failing to break the resistance zone.

Trade closed: target reached

The XAU/USD price reversed from a support area and entered a strong uptrend, reaching a resistance level around 3,420 to 3,440. After multiple rejections at this resistance, the price formed a bearish structure and broke below a key support level around 3,275. A short position was taken below 3,325 with a stop loss near 3,347 and a target at 3,225. The target was successfully reached, confirming the bearish move.

GoldKing110

World Best Signals Channel here 🤝

✅ XAUUSD Gold
✅ BTC & other coins
✅ EURUSD
✅ USDJPY
✅ GBPUSD
✅ ETH USD

Telegram channel 👇👇
t.me/+YR37dVM2NG44YTZk

Also on:

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.

GoldKing110

World Best Signals Channel here 🤝

✅ XAUUSD Gold
✅ BTC & other coins
✅ EURUSD
✅ USDJPY
✅ GBPUSD
✅ ETH USD

Telegram channel 👇👇
t.me/+YR37dVM2NG44YTZk

Also on: