1-hour chart of XAU/USD (XAUUSD )Chart Observations
Current Price:
Around $3,325.40 at the time of the screenshot.
Zones and Levels:
Red Zone (Top): Resistance around $3,360 – potential reversal area if price reaches it.
Orange Zone (Middle): Resistance or supply zone near $3,340–$3,345, possibly where sellers may come in.
Gray Zone: A neutral/consolidation zone around the current price.
Green Zones (Bottom): Strong support zones near $3,280, indicating a potential long entry if price drops.
Price Action Forecast (Based on Arrows)
Bullish Scenario:
Price is expected to rise toward the orange resistance zone (~$3,340–$3,345).
If price breaks above this zone, it might test the $3,360 area (upper red zone).
Bearish Scenario:
If price fails to break or gets rejected at the orange zone:
A potential reversal back down toward the $3,280 support area is anticipated.
Strategy Implication
Short Setup: If price hits the $3,340–$3,345 zone and shows signs of rejection (bearish candlestick pattern), a short trade toward $3,280 support is possible.
Long Setup: If price reaches the green support zone ($3,280) and holds, a long position could be considered targeting the gray or orange zone.
Risk Zones
Stop-Loss Considerations:
For short trades above $3,345.
For long trades below $3,275–$3,270, depending on volatility.
