Gold (XAU/USD) – 1H Chart
Price recently tested a strong resistance near $3,370–$3,375 and failed to break higher. The structure indicates a bearish rejection at supply, aligning with the overhead trendline resistance.
🔹 Entry: Short near $3,369
🔹 Stop Loss: Above $3,373 (local rejection zone)
🔹 Target: $3,336 (demand zone)
🔹 R:R: ~1:8
Bias remains bearish as long as price stays below $3,375. A decisive close above resistance would invalidate this setup.
Price recently tested a strong resistance near $3,370–$3,375 and failed to break higher. The structure indicates a bearish rejection at supply, aligning with the overhead trendline resistance.
🔹 Entry: Short near $3,369
🔹 Stop Loss: Above $3,373 (local rejection zone)
🔹 Target: $3,336 (demand zone)
🔹 R:R: ~1:8
Bias remains bearish as long as price stays below $3,375. A decisive close above resistance would invalidate this setup.
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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.