Gold Spot / U.S. Dollar
Short
Updated

XAUUSD.1 HOUR TIME FIRM

137
Based on your chart labeled "XAUUSD 1 Hour Time Analysis", here's a breakdown of the technical setup and analysis:
Chart Summary

Instrument: XAU/USD (Gold vs. US Dollar)

Timeframe: 1-Hour

Current Price: ~3,311.140

Trend Context: Bearish move followed by a short-term bullish correction.

Technical Elements on the Chart

1. Bearish Trend:

Strong downward trend before a corrective upward move.

Price retraced to around the 85% Fibonacci level (0.8529), suggesting a deep retracement but still within the correction zone.

2. Bear Flag / Rising Wedge Pattern:

The rising channel (shaded blue) typically indicates a bearish continuation pattern.

Price is approaching resistance near previous support zones and EMAs.

3. Entry Point:

Marked around the current price (~3,311) where price is testing the upper resistance of the wedge.

The analysis suggests entering a short (sell) trade here.

4. Stop Loss Zone:

Placed slightly above the wedge (~3,327–3,338), above a possible fake-out zone.

This gives room in case of a temporary spike before a drop.

5. Final Target:

Marked at around 3,259.887, which aligns with a prior support level and completes the measured move of the wedge breakdown.

Trade Setup Summary

Direction: Short (Sell)

Entry: ~3,311

Stop Loss: ~3,327–3,338

Take Profit (Target): ~3,259

Risk/Reward: Favorable (approx. 1:2.5 to 1:3 ratio)

Supporting Indicators

EMA clusters and downward-sloping moving averages suggest the overall momentum is still bearish.

The retracement and potential reversal zone corresponds with dynamic resistance.
Trade closed: stop reached
Sorry guys stop loss hit know ready for next target.

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