🚨 XAUUSD Bearish Reversal Setup at Key Fibonacci Levels 🚀📉
Gold (XAUUSD) is approaching a critical resistance zone between the 1.272 (2846.09) and 1.618 (2866.24) Fibonacci extension levels, where price often shows signs of exhaustion. After an extended bullish rally, momentum is slowing down ⚡—hinting at a possible reversal.
📊 Technical Breakdown:
• 🔑 Fibonacci Confluence: Price is reacting strongly around 1.272 and heading towards 1.618—classic reversal zones for trend exhaustion.
• ❌ Rejection Signals: Multiple wick rejections suggest strong selling pressure from institutional levels.
• 📉 Trendline Support Target: A rising trendline around 2790.57 could act as the next bearish target if momentum shifts.
• 🎯 Risk-Reward Edge: Stop loss secured above 2867 to avoid fakeouts, targeting a high-probability move towards trendline support.
💼 Trade Setup:
• 🔻 Sell Entry: 2840–2850
• 🛡️ Stop Loss: 2867 (above resistance)
• 🎯 Take Profit: 2790 (trendline support)
📈 Market Outlook:
If price fails to break above the resistance zone, expect a bearish correction towards the trendline. A strong breakout above 2867 would invalidate this setup, signaling continued bullish strength.
🤔 What’s your outlook on XAUUSD? Drop your analysis below! 👇🔥
Trade closed: stop reached
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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.