Gold Forms Triple Top and Breaks Channel Bearish Cont' Play

This chart of XAU/USD (Gold vs USD) on the 15-minute timeframe shows a clear bearish setup forming after a strong upward channel.

Here’s a quick breakdown:

- Trend Structure: Price was moving within a rising channel, but has now broken below the lower boundary of that channel, signaling a possible shift in trend.
- Triple Top Pattern: Three peaks marked as "TOP 1", "TOP 2", and "TOP 3" suggest a strong resistance zone and bearish reversal potential.
- Break of Structure (BoS): Several BoS labels indicate bearish breaks in market structure, supporting the downside bias.
- Projected Move: The chart suggests a pullback to retest the broken channel and then a continuation downward.
- Bearish Targets: The key downside levels are marked at 3187, 3177, and 3151, which align with previous support zones.

Overall, this chart signals a likely bearish continuation if price respects the retest zone and fails to reclaim the channel.