Gold
Entry Analysis from 2878 on Gold Chart (XAU/USD) – 1-Hour Timeframe
✅ Current Market Condition:
- The overall trend is bearish, and the price has found support around 2863.36.
- Entering from 2878 implies that you expect a bullish correction before the price resumes its downward movement.
- The 2878 level is near the Volume Profile area, where selling pressure may increase.
---
📉 Entry Scenario at 2878 (Sell After Correction)
✅ Entry: 2878 (Only if the price reaches this level and shows bearish confirmation)
- We expect the price to reach this level after a corrective move and then face selling pressure.
- Confirmation through bearish candlestick patterns (such as engulfing patterns or strong selling candles) is required.
🎯 Suggested Targets:
1. First Target: 2863 – 2860 (Previous support level)
2. Second Target:** 2845 – 2840 (Next support in lower timeframes)
🚨 Suggested Stop Loss:
- Above 2885 – 2890, where strong resistance is located.
---
📌 Conclusion & Recommendation:
- A short entry at 2878 with bearish candlestick confirmation is a logical scenario to follow the downtrend.
- If the price breaks above this level, be cautious about the potential rise towards 2890 – 2895.
- This setup requires careful monitoring of candlestick formations and trading volume to avoid false entries.
📉Result and Success Probability Estimate:
Based on market structure and technical signals, I estimate the probability of a successful sell from 2878 to be around 65% - 70%.
- If a strong bearish confirmation candle (such as an Engulfing) forms at 2878 , the probability increases to 75% .
- If the price stabilizes above 2885 , the probability of success decreases, making the trade riskier.
✅ Current Market Condition:
- The overall trend is bearish, and the price has found support around 2863.36.
- Entering from 2878 implies that you expect a bullish correction before the price resumes its downward movement.
- The 2878 level is near the Volume Profile area, where selling pressure may increase.
---
📉 Entry Scenario at 2878 (Sell After Correction)
✅ Entry: 2878 (Only if the price reaches this level and shows bearish confirmation)
- We expect the price to reach this level after a corrective move and then face selling pressure.
- Confirmation through bearish candlestick patterns (such as engulfing patterns or strong selling candles) is required.
🎯 Suggested Targets:
1. First Target: 2863 – 2860 (Previous support level)
2. Second Target:** 2845 – 2840 (Next support in lower timeframes)
🚨 Suggested Stop Loss:
- Above 2885 – 2890, where strong resistance is located.
---
📌 Conclusion & Recommendation:
- A short entry at 2878 with bearish candlestick confirmation is a logical scenario to follow the downtrend.
- If the price breaks above this level, be cautious about the potential rise towards 2890 – 2895.
- This setup requires careful monitoring of candlestick formations and trading volume to avoid false entries.
📉Result and Success Probability Estimate:
Based on market structure and technical signals, I estimate the probability of a successful sell from 2878 to be around 65% - 70%.
- If a strong bearish confirmation candle (such as an Engulfing) forms at 2878 , the probability increases to 75% .
- If the price stabilizes above 2885 , the probability of success decreases, making the trade riskier.
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.