🔥 Real-Time Market Evaluation & Pattern Recognition
📌 Key Observations from the Chart:
1️⃣ Identified Pattern – Rising Wedge (Bearish)
✔ Price has been forming higher lows and higher highs within converging trendlines.
✔ Recent price action shows breakdown pressure near the lower wedge support.
✔ If price closes below $2,910, the wedge breakdown is confirmed → Bearish continuation.
2️⃣ How Many Rejections Today?
🔹 Total Rejections Noted: 4 Major Rejections
2 strong rejections at $2,926 - $2,928 resistance (upper boundary).
2 rejections from trendline support near $2,910 - $2,915.
🔹 What This Means:
Repeated failures at resistance indicate strong sell pressure.
Support at $2,910 is being tested again – possible breakdown.
3️⃣ Institutional Support & Resistance Zones
🔹 Key Support Levels Below:
$2,910 (Trendline support) → If broken, next stop $2,900 - $2,892.
$2,900 → Institutional liquidity zone.
$2,875 → Major institutional demand level.
🔸 Immediate Resistance Levels Above:
$2,926 - $2,928 → Major rejection zone.
$2,950 → Institutional profit-taking area (if bullish reversal).
📢 Trade Execution – Should You Buy or Sell?
✅ SELL SETUP (Best Trade Right Now)
📍 Exact Entry: Sell below $2,910 if it breaks.
🎯 Take Profit Targets:
TP1: $2,900 (Immediate bearish target).
TP2: $2,892 (Stronger support level).
TP3: $2,875 (Institutional demand).
❌ Stop-Loss: Above $2,916 (To avoid stop-hunts).
📊 Risk-Reward Ratio (R:R): 1:3 (Optimized for high-probability short trade).
🚀 Alternative Scenario – When to Buy?
🔹 Only Buy if price holds above $2,910 & reclaims $2,920 with strong momentum.
🔹 Confirmation needed: Bullish engulfing candle & volume increase.
🔥 Final Verdict – SELL XAU/USD Now Below $2,910!
📌 Sell if $2,910 breaks → Target $2,900 - $2,892 - $2,875.
📌 If price holds above $2,910, wait for bullish confirmation before buying.
📌 Bias: Bearish – Rising wedge breakdown is likely.
🚀 Best trade: SHORT XAU/USD below $2,910 for maximum profit! 📉🔥
📌 Key Observations from the Chart:
1️⃣ Identified Pattern – Rising Wedge (Bearish)
✔ Price has been forming higher lows and higher highs within converging trendlines.
✔ Recent price action shows breakdown pressure near the lower wedge support.
✔ If price closes below $2,910, the wedge breakdown is confirmed → Bearish continuation.
2️⃣ How Many Rejections Today?
🔹 Total Rejections Noted: 4 Major Rejections
2 strong rejections at $2,926 - $2,928 resistance (upper boundary).
2 rejections from trendline support near $2,910 - $2,915.
🔹 What This Means:
Repeated failures at resistance indicate strong sell pressure.
Support at $2,910 is being tested again – possible breakdown.
3️⃣ Institutional Support & Resistance Zones
🔹 Key Support Levels Below:
$2,910 (Trendline support) → If broken, next stop $2,900 - $2,892.
$2,900 → Institutional liquidity zone.
$2,875 → Major institutional demand level.
🔸 Immediate Resistance Levels Above:
$2,926 - $2,928 → Major rejection zone.
$2,950 → Institutional profit-taking area (if bullish reversal).
📢 Trade Execution – Should You Buy or Sell?
✅ SELL SETUP (Best Trade Right Now)
📍 Exact Entry: Sell below $2,910 if it breaks.
🎯 Take Profit Targets:
TP1: $2,900 (Immediate bearish target).
TP2: $2,892 (Stronger support level).
TP3: $2,875 (Institutional demand).
❌ Stop-Loss: Above $2,916 (To avoid stop-hunts).
📊 Risk-Reward Ratio (R:R): 1:3 (Optimized for high-probability short trade).
🚀 Alternative Scenario – When to Buy?
🔹 Only Buy if price holds above $2,910 & reclaims $2,920 with strong momentum.
🔹 Confirmation needed: Bullish engulfing candle & volume increase.
🔥 Final Verdict – SELL XAU/USD Now Below $2,910!
📌 Sell if $2,910 breaks → Target $2,900 - $2,892 - $2,875.
📌 If price holds above $2,910, wait for bullish confirmation before buying.
📌 Bias: Bearish – Rising wedge breakdown is likely.
🚀 Best trade: SHORT XAU/USD below $2,910 for maximum profit! 📉🔥
Note
📌 Why is $2,900.500 the Best Buy Entry?✔ Liquidity Pool at $2,900 → Institutional demand zone.
✔ If price sweeps $2,900, it will trigger buy orders & bounce back.
✔ Confluence with Fibonacci retracement & key historical support.
✔ Safe stop-loss placement avoids unnecessary stop-hunts.
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.