Gold is showing a bearish setup because price has already broken the uptrend line and is now coming back to retest the broken trendline area.
Sell Entry Zone: around 4118 – 4120
This area is also near the previous resistance / evening star pattern zone, so sellers may enter again from there.
Stop Loss: around 4134
If price breaks above this level, the sell setup becomes weak because buyers may take control.
Targets:
TP1: 4108 – 4110
TP2: 4104
TP3: 4091
Simple Explanation:
Price broke the trendline, now retesting the same broken zone. If rejection happens from 4118–4120, gold can continue falling toward 4108, 4104 and 4091.
Invalidation:
If 1H candle closes strongly above 4124–4134, avoid sell or exit the setup
Sell Entry Zone: around 4118 – 4120
This area is also near the previous resistance / evening star pattern zone, so sellers may enter again from there.
Stop Loss: around 4134
If price breaks above this level, the sell setup becomes weak because buyers may take control.
Targets:
TP1: 4108 – 4110
TP2: 4104
TP3: 4091
Simple Explanation:
Price broke the trendline, now retesting the same broken zone. If rejection happens from 4118–4120, gold can continue falling toward 4108, 4104 and 4091.
Invalidation:
If 1H candle closes strongly above 4124–4134, avoid sell or exit the setup
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.
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.