Gold(
XAUUSD) has tested the resistance lines several times but has failed to break above them. On the 4-hour timeframe, it also appears to have formed a Shooting Star Candlestick Pattern, which is considered a bearish reversal signal.
From an Elliott Wave perspective, Gold seems to have completed another Zigzag Correction, suggesting that the next bearish wave could begin soon.
Since Gold has been unable to close a weekly candle back above the $4,000 level for several weeks, this is another bearish sign that suggests the downward trend may continue.
I expect Gold to break below the key trading level of $3,995 and decline at least toward $3,961. If the bearish momentum increases, we could even see a move down to $3,949.
First Target: $3,961
Second Target: $3,949
Stop Loss(SL): $4,052
Note: Since tensions in the Middle East continue to escalate, any related news could have an immediate impact on the Gold. Therefore, be sure to monitor geopolitical developments closely and manage your risk carefully.
What’s your view on Gold? Do you think it can reclaim the $4,000 level and close this week's candle above it, or will it continue trading below that key psychological level?
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌 Gold Analyze (XAUUSD), 4-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
XAUUSD) has tested the resistance lines several times but has failed to break above them. On the 4-hour timeframe, it also appears to have formed a Shooting Star Candlestick Pattern, which is considered a bearish reversal signal.From an Elliott Wave perspective, Gold seems to have completed another Zigzag Correction, suggesting that the next bearish wave could begin soon.
Since Gold has been unable to close a weekly candle back above the $4,000 level for several weeks, this is another bearish sign that suggests the downward trend may continue.
I expect Gold to break below the key trading level of $3,995 and decline at least toward $3,961. If the bearish momentum increases, we could even see a move down to $3,949.
First Target: $3,961
Second Target: $3,949
Stop Loss(SL): $4,052
Note: Since tensions in the Middle East continue to escalate, any related news could have an immediate impact on the Gold. Therefore, be sure to monitor geopolitical developments closely and manage your risk carefully.
What’s your view on Gold? Do you think it can reclaim the $4,000 level and close this week's candle above it, or will it continue trading below that key psychological level?
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌 Gold Analyze (XAUUSD), 4-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
Trade ist aktiv
Stop Loss(SL) was touched
Transparency is always important to me, and I will announce if the Stop Loss(SL) is touched
Long position was activated.
Since Gold failed to break below the key trading level of $3,995, it resumed its bullish momentum and successfully broke above the upper trendlines of the Falling Wedge Pattern, confirming a bullish breakout.
Gold also surpassed the next major resistance and key trading level at $4,060, further strengthening the bullish outlook. If buying pressure remains strong, the price is likely to continue advancing toward the next significant resistance zone around $4,105, where a reaction or temporary pullback could be expected.
Trade geschlossen: Ziel wurde erreicht
Target Done(Risk-To-Reward: 1.01)
I will update a new idea about Gold soon
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🚀 Up to 75% Trading Fee Rebates Across 20+ Exchanges:
🤖 t.me/Protrader365bot
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🎁 Free VIP Forex and Crypto Signals, please visit:
🔗 t.me/ProTrader_365
🤖 t.me/Protrader365bot
-----
🎁 Free VIP Forex and Crypto Signals, please visit:
🔗 t.me/ProTrader_365
Verbundene Veröffentlichungen
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.