Your XAUUSD 1H chart shows a bearish bias, with recent lower highs and price below the descending trendline. The arrows project a rebound into the 4,372–4,375 sell zone, followed by a possible decline toward 4,355.78.
The sell zone overlaps the 61.8% Fibonacci retracement at 4,375.15. Fibonacci retracements help identify potential resistance, but require price confirmation. Fidelity’s explanation
Level Price
Proposed sell zone 4,372–4,375
Marked entry 4,375.02
Stop loss 4,383.71
Take profit 4,355.78
Intermediate resistance — 50% retracement 4,368.47
Recent support area Approximately 4,340–4,344
At the screenshot price of approximately 4,347.73, the 4,355–4,356 band is already above market and may act as resistance during a rebound. It becomes the projected downside target after a sell entry at the higher zone.
A bearish rejection candle around the sell zone, followed by a break below the pullback’s minor swing low, would strengthen the bearish case. That confirmation has not appeared in this screenshot. The projected rebound would also cross above the drawn trendline, so the trendline alone cannot confirm the sell entry.
The sell zone overlaps the 61.8% Fibonacci retracement at 4,375.15. Fibonacci retracements help identify potential resistance, but require price confirmation. Fidelity’s explanation
Level Price
Proposed sell zone 4,372–4,375
Marked entry 4,375.02
Stop loss 4,383.71
Take profit 4,355.78
Intermediate resistance — 50% retracement 4,368.47
Recent support area Approximately 4,340–4,344
At the screenshot price of approximately 4,347.73, the 4,355–4,356 band is already above market and may act as resistance during a rebound. It becomes the projected downside target after a sell entry at the higher zone.
A bearish rejection candle around the sell zone, followed by a break below the pullback’s minor swing low, would strengthen the bearish case. That confirmation has not appeared in this screenshot. The projected rebound would also cross above the drawn trendline, so the trendline alone cannot confirm the sell entry.
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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.
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.