XAU/USD 4HOURS MARKET WILL GO DOWN MORE
1. Trend Analysis:
The price has been moving in an upward channel with two support lines drawn.
The price recently broke below one of these support lines, indicating potential weakness.
2. Trade Setup:
A short (sell) position is suggested in the red zone.
The projected downward move is marked with a red arrow.
The target price for the downward move is around 2,868 – 2,906.
3. Market Phases:
A Lead-In Phase is marked in the earlier consolidation zone before the breakout.
A recent consolidation (rectangular zone) indicates possible distribution before a decline.
4. Key Price Levels:
Current price: ~3,021 USD.