4-hour chart for XAUUSD (Gold Spot vs US Dollar)This is a 4-hour chart for XAUUSD (Gold Spot vs US Dollar) showing a technical analysis setup:
1. Current Price:
Sell: 3,238.70
Buy: 3,239.00
2. Marked Levels:
There's a red shaded area labeled "ENTRY ZONE" between 3,272.81 and 3,273.79.
This zone likely acts as a resistance or pullback area where a sell entry is being considered.
3. Market Structure:
Price previously moved up strongly (bullish), but now it’s forming lower highs and lower lows, indicating a bearish trend.
A projected path is drawn showing that price might go back up into the entry zone and then drop further — with a potential target near 3,009.75.
4. Bias:
The overall bias shown in the chart is bearish.
It suggests a sell opportunity in the entry zone, expecting price to fall after a short-term pullback.
If you want, I can help you build a full trade plan (entry, stop loss, and take profit) based on this chart too. Just let me know!
