CFDs on Gold (US$/OZ), 1-hour timeframe (TVC).
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2. Key Concepts Used:
• Bearish Order Blocks (OB): These are zones where big sellers previously entered the market, potentially acting as resistance if price returns.
• Fibonacci Retracement (0.646 level shown): Indicates a retracement point from the recent move, helping to identify a reversal or continuation level.
• Support/Resistance Zones: Yellow shaded areas are likely support/resistance.
• Trend Line: An upward sloping trendline was recently broken, indicating bearish pressure.
⸻
3. Market Structure and Plan:
A. Left Side of the Chart:
• A strong rally occurred, reaching above the black horizontal line (around $3165).
• Marked with an orange circle, likely a liquidity grab or false breakout.
• Price then fell sharply — a rejection from that high.
B. Midsection:
• Two Bearish Order Blocks were marked (orange circles) where price paused and reversed downward.
• A falling wedge or descending pattern ended around April 8, with a sharp bounce.
C. Right Side - Current Price Action:
• Price broke the upward trendline and is now testing a resistance zone (highlighted in yellow, around $3124).
• A potential lower high may be forming.
⸻
2. Key Concepts Used:
• Bearish Order Blocks (OB): These are zones where big sellers previously entered the market, potentially acting as resistance if price returns.
• Fibonacci Retracement (0.646 level shown): Indicates a retracement point from the recent move, helping to identify a reversal or continuation level.
• Support/Resistance Zones: Yellow shaded areas are likely support/resistance.
• Trend Line: An upward sloping trendline was recently broken, indicating bearish pressure.
⸻
3. Market Structure and Plan:
A. Left Side of the Chart:
• A strong rally occurred, reaching above the black horizontal line (around $3165).
• Marked with an orange circle, likely a liquidity grab or false breakout.
• Price then fell sharply — a rejection from that high.
B. Midsection:
• Two Bearish Order Blocks were marked (orange circles) where price paused and reversed downward.
• A falling wedge or descending pattern ended around April 8, with a sharp bounce.
C. Right Side - Current Price Action:
• Price broke the upward trendline and is now testing a resistance zone (highlighted in yellow, around $3124).
• A potential lower high may be forming.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.