This chart shows a technical analysis of Gold (CFDs on Gold - XAU/USD) on the 1-hour timeframe, with a focus on a bearish (downward) trade setup. Here's a detailed breakdown of what it means:
đź“Š Chart Summary
1. Resistance Zone (Green Area on Top)
Around $3,340–$3,360.
This is where sellers are expected to be strong.
Price previously reversed from this zone (shown by the black arrows), indicating a double rejection and confirming it as strong resistance.
2. Support Zone (Blue Area in Middle)
Around $3,260–$3,270.
This is the immediate support level, where price has bounced in the past.
3. Strong Support Zone (Lower Black Line)
Around $3,208.075.
Marked as a major level where buyers may step in if price continues to fall.
🛠️ Trade Idea Explained
Current Price: $3,288.640 (slightly under short-term resistance).
The chart shows a short/sell setup with an expectation of:
Price rejecting at the red zone (above current price).
A downward move toward the support at $3,243.856, and possibly even lower to $3,208.075.
Red Box (Stop-Loss Area): Where the trade would be invalidated if the price rises above this zone.
Green Box (Take-Profit Area): The expected downward target zone.
Black Downward Arrow: Indicates the projected direction of the price (bearish bias).
đź“Ź EMA Indicators
EMAs (Exponential Moving Averages): 20, 50, 100, 200 periods
These are currently flat to slightly downward, suggesting neutral to bearish trend.
Price is under some of these EMAs, reinforcing the downward pressure.
🧠Interpretation
The chart suggests a high-probability short trade from current levels.
The idea is to sell near the current price (under resistance) and aim for a move down to the next support zone.
It assumes the resistance zone will hold and price will move down without breaking above the stop-loss area.
⚠️ Caution
This setup requires confirmation (e.g., bearish candle or rejection wick).
Always use risk management and be aware of economic news that may affect gold.
âś… One-Line Title Suggestion
Gold (XAU/USD) Bearish Rejection Setup Targeting Key Support Zones
Let me know if you'd like a trade plan or a version of this for another timeframe.
đź“Š Chart Summary
1. Resistance Zone (Green Area on Top)
Around $3,340–$3,360.
This is where sellers are expected to be strong.
Price previously reversed from this zone (shown by the black arrows), indicating a double rejection and confirming it as strong resistance.
2. Support Zone (Blue Area in Middle)
Around $3,260–$3,270.
This is the immediate support level, where price has bounced in the past.
3. Strong Support Zone (Lower Black Line)
Around $3,208.075.
Marked as a major level where buyers may step in if price continues to fall.
🛠️ Trade Idea Explained
Current Price: $3,288.640 (slightly under short-term resistance).
The chart shows a short/sell setup with an expectation of:
Price rejecting at the red zone (above current price).
A downward move toward the support at $3,243.856, and possibly even lower to $3,208.075.
Red Box (Stop-Loss Area): Where the trade would be invalidated if the price rises above this zone.
Green Box (Take-Profit Area): The expected downward target zone.
Black Downward Arrow: Indicates the projected direction of the price (bearish bias).
đź“Ź EMA Indicators
EMAs (Exponential Moving Averages): 20, 50, 100, 200 periods
These are currently flat to slightly downward, suggesting neutral to bearish trend.
Price is under some of these EMAs, reinforcing the downward pressure.
🧠Interpretation
The chart suggests a high-probability short trade from current levels.
The idea is to sell near the current price (under resistance) and aim for a move down to the next support zone.
It assumes the resistance zone will hold and price will move down without breaking above the stop-loss area.
⚠️ Caution
This setup requires confirmation (e.g., bearish candle or rejection wick).
Always use risk management and be aware of economic news that may affect gold.
âś… One-Line Title Suggestion
Gold (XAU/USD) Bearish Rejection Setup Targeting Key Support Zones
Let me know if you'd like a trade plan or a version of this for another timeframe.
Declinazione di responsabilitĂ
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.
Declinazione di responsabilitĂ
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.