Overview
This chart illustrates a high-probability bearish setup for XAUUSD based on the breakdown of a rising wedge pattern. Rising wedges typically signal a potential reversal or correction, especially when they occur near a resistance zone and are followed by lower highs and diminishing bullish momentum.
🔍 Technical Breakdown
📐 Rising Wedge Pattern
The price...
🔎 Key Zones and Annotations Explained
🟥 Resistance Level (Supply Zone):
Marked in red, this level represents a historical supply area where sellers consistently outweigh buyers.
Multiple rejections from this zone confirm its strength.
🔄 RS Interchange (Support-Turned-Resistance):
This area around 26.00 – 27.50 has previously acted as support and could now act...
Description:
This weekly chart of Ethereum (ETH/USD) highlights a Triple Top pattern forming around the key resistance zone near $4,000–$4,800, signaling potential bearish reversal. Each peak (Top 1, Top 2, Top 3) has failed to break above the resistance, confirming strong seller presence.
After the third top, price action has turned downward, indicating the...
Chart Analysis:
Bitcoin has been consolidating within a well-defined rectangle pattern over the past several days, bounded by a support level around $95,000 and a resistance level near $97,000. This horizontal range represented a period of market indecision, where neither buyers nor sellers took clear control.
On May 2nd, BTC broke above the upper boundary of...
Gold (XAU/USD) has been trading within a tightening consolidation range over the past several sessions, characterized by lower highs and a horizontal support level. This behavior has resulted in the formation of a descending triangle, which is commonly interpreted as a bearish continuation pattern—especially when occurring in a downtrend.
Following a failed...
