xauusd 15mThis chart represents a technical analysis of the Gold Spot price against the US Dollar (XAU/USD) on a 15-minute timeframe. Here's a breakdown of the annotations:
Key Zones and Levels:
Register Zone (Resistance): The red rectangle at the top (~3,284 area) indicates a resistance zone where selling pressure may increase.
1st Level (Support): The blue line at 3,271.400 is labeled as the first level of support, a possible bounce area.
Target Level (Support): The green zone below (~3,250 area) marks the target level, suggesting the ultimate bearish target if price breaks the 1st level.
Arrows and Pathways:
Black Arrow Path: Shows a potential short setup:
Price hits resistance at the register zone
Drops to 1st level at 3,271.400
Continues to the target level
Red Arrow: Emphasizes the expected bearish move toward the target zone.
Interpretation:
The chart suggests a bearish outlook with a potential short trade setup from the register zone down to the green target level.
The first level might serve as a minor support or a decision point — if broken, the price could continue downward.
Let me know if you'd like help writing a trading plan based on this chart, or want to explore possible stop loss / entry strategies.
