XAUUSD is currently undergoing a corrective move after last week's bearish continuation. Price is now testing the minor resistance zone of 3295–3322, and could potentially extend the correction to test the descending trendline near 3333–3342.
The overall market structure remains bearish, with lower highs and lower lows clearly intact. Price has yet to break above the dynamic resistance trendline or the key swing high at 3366 — making any bullish move at this stage corrective, not a reversal.
Unless we see a strong bullish break and close above 3366, we expect sellers to return once price reaches the trendline or supply area around 3333–3342.
📌 Trade Plan (Sell on Pullback)
Sell Limit: 3333–3342
SL: 3368
TP1: 3296
TP2: 3255
TP3: 3220
📊 Key Levels:
R2: 3342
R1: 3322
Pivot: 3295
S1: 3254
S2: 3214
S3: 3180
Summary: Wait for bearish confirmation at the supply zone before entering. Bias remains bearish until proven otherwise by a structural break above 3366. Use smaller lot size or scale in slowly if price approaches the sell zone with weak bullish momentum.
The overall market structure remains bearish, with lower highs and lower lows clearly intact. Price has yet to break above the dynamic resistance trendline or the key swing high at 3366 — making any bullish move at this stage corrective, not a reversal.
Unless we see a strong bullish break and close above 3366, we expect sellers to return once price reaches the trendline or supply area around 3333–3342.
📌 Trade Plan (Sell on Pullback)
Sell Limit: 3333–3342
SL: 3368
TP1: 3296
TP2: 3255
TP3: 3220
📊 Key Levels:
R2: 3342
R1: 3322
Pivot: 3295
S1: 3254
S2: 3214
S3: 3180
Summary: Wait for bearish confirmation at the supply zone before entering. Bias remains bearish until proven otherwise by a structural break above 3366. Use smaller lot size or scale in slowly if price approaches the sell zone with weak bullish momentum.
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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.