This is a smart money concept (SMC) based technical analysis chart for Gold Spot / U.S. Dollar (XAU/USD) on the 1-hour timeframe, showing a bearish market bias.
Key Terms & Annotations:
BOS (Break of Structure): Indicates a bullish breakout in the earlier phase of the market.
$$$ (Liquidity Grab): A sweep of previous highs, used to trap traders before reversing.
OB (Order Block): The last bullish candle before a bearish move; potential supply zone.
CHoCH (Change of Character): A bearish signal showing potential reversal of trend.
EQL (Equal Lows): Liquidity lying below; possible target for price.
FVG (Fair Value Gap): An inefficiency in price, where price may retrace to fill the gap.
📉 Trading Idea Summary:
The price recently showed a Change of Character (CHoCH) and started moving downward, indicating a shift from bullish to bearish.
A bearish order block (OB) and a Fair Value Gap (FVG) zone above current price suggest a potential retracement area before continuing down.
The note on the chart says:
"If the price breaks out with a strong body, then go for short."
Meaning: Wait for price to break below the current support area (EQL) with a strong bearish candle body. If that happens, it's a signal to enter a short (sell) trade.
Target zone is marked near 3,374.285, which is the next liquidity level or demand zone.
Conclusion:
The setup suggests:
Wait for a strong breakout below current support.
If confirmed, enter a short trade targeting lower liquidity levels.
Be cautious if price retraces into the FVG or OB zone, as it may provide another short entry.
Key Terms & Annotations:
BOS (Break of Structure): Indicates a bullish breakout in the earlier phase of the market.
$$$ (Liquidity Grab): A sweep of previous highs, used to trap traders before reversing.
OB (Order Block): The last bullish candle before a bearish move; potential supply zone.
CHoCH (Change of Character): A bearish signal showing potential reversal of trend.
EQL (Equal Lows): Liquidity lying below; possible target for price.
FVG (Fair Value Gap): An inefficiency in price, where price may retrace to fill the gap.
📉 Trading Idea Summary:
The price recently showed a Change of Character (CHoCH) and started moving downward, indicating a shift from bullish to bearish.
A bearish order block (OB) and a Fair Value Gap (FVG) zone above current price suggest a potential retracement area before continuing down.
The note on the chart says:
"If the price breaks out with a strong body, then go for short."
Meaning: Wait for price to break below the current support area (EQL) with a strong bearish candle body. If that happens, it's a signal to enter a short (sell) trade.
Target zone is marked near 3,374.285, which is the next liquidity level or demand zone.
Conclusion:
The setup suggests:
Wait for a strong breakout below current support.
If confirmed, enter a short trade targeting lower liquidity levels.
Be cautious if price retraces into the FVG or OB zone, as it may provide another short entry.
Trade closed: target reached
Nice ONE.
Target done.
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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.