Hi traders! Analyzing XAU/USD on the 1H timeframe, price is rejecting from a key resistance inside the descending channel.
🔹 Entry: 3,318
🔹 TP: 3,271
🔹 SL: 3,369
Gold is respecting the upper trendline of the downtrend channel, and momentum remains weak. After a small bounce, sellers have stepped in again, suggesting a possible continuation to the downside.
RSI remains below the 50 mark, favoring bearish pressure. A break below 3,300 could confirm acceleration towards the target zone at 3,271.
Watching closely for bearish continuation signals!
⚠️ DISCLAIMER: This is not financial advice. Every trader must evaluate their own risk and strategy.
🔹 Entry: 3,318
🔹 TP: 3,271
🔹 SL: 3,369
Gold is respecting the upper trendline of the downtrend channel, and momentum remains weak. After a small bounce, sellers have stepped in again, suggesting a possible continuation to the downside.
RSI remains below the 50 mark, favoring bearish pressure. A break below 3,300 could confirm acceleration towards the target zone at 3,271.
Watching closely for bearish continuation signals!
⚠️ DISCLAIMER: This is not financial advice. Every trader must evaluate their own risk and strategy.
Trade closed: target reached
🔥
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🔥Explore market opportunities with smart analysis. Learn more about Wordcoin!
world.org/join/OELWQPN
world.org/join/OELWQPN
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.