XAUUSD / GOLD – 1H Sell Limit Projection
The chart shows a potential bearish Head and Shoulders pattern, indicating that sellers may regain control.
Pattern Structure
Left Shoulder: Around 4,130
Head: Around 4,158–4,165
Right Shoulder: Around 4,130–4,135
Major Resistance: 4,133–4,135
After forming the head, the price failed to create a new higher high and started moving lower. This supports the bearish outlook.
Sell Entry Zone
The preferred sell-entry area is based on the Fibonacci retracement zone:
0.5 Fibonacci level: 4,120.68
0.618 Fibonacci level: 4,110.14
Sell-entry zone: 4,110–4,120
Marked entry price: approximately 4,118.32
A sell position can be considered only if the price retraces into this zone and shows clear bearish rejection.
Stop Loss
Stop Loss: 4,140.88
The stop loss is placed above the right-shoulder resistance area. A strong candle close above 4,140.88 could invalidate the bearish setup.
Target Levels
Target 1: 4,104.13
The first support area. Partial profit booking may be considered here.
Target 2: 4,085.00
The next major support and liquidity zone.
Target 3: 4,065.13
The final bearish projection and major support area.
Expected Price Movement
4,110–4,120 retracement → bearish rejection → 4,104 → 4,085 → 4,065
Important Note
The current price shown on the chart is already near 4,104, which is Target 1. Therefore, entering a fresh market sell at this level may be risky.
It is safer to wait for the price to retrace toward the entry zone and look for confirmation such as:
Bearish engulfing candle
Strong rejection wick
Lower-timeframe bearish Change of Character
Break and retest of support
The chart shows a potential bearish Head and Shoulders pattern, indicating that sellers may regain control.
Pattern Structure
Left Shoulder: Around 4,130
Head: Around 4,158–4,165
Right Shoulder: Around 4,130–4,135
Major Resistance: 4,133–4,135
After forming the head, the price failed to create a new higher high and started moving lower. This supports the bearish outlook.
Sell Entry Zone
The preferred sell-entry area is based on the Fibonacci retracement zone:
0.5 Fibonacci level: 4,120.68
0.618 Fibonacci level: 4,110.14
Sell-entry zone: 4,110–4,120
Marked entry price: approximately 4,118.32
A sell position can be considered only if the price retraces into this zone and shows clear bearish rejection.
Stop Loss
Stop Loss: 4,140.88
The stop loss is placed above the right-shoulder resistance area. A strong candle close above 4,140.88 could invalidate the bearish setup.
Target Levels
Target 1: 4,104.13
The first support area. Partial profit booking may be considered here.
Target 2: 4,085.00
The next major support and liquidity zone.
Target 3: 4,065.13
The final bearish projection and major support area.
Expected Price Movement
4,110–4,120 retracement → bearish rejection → 4,104 → 4,085 → 4,065
Important Note
The current price shown on the chart is already near 4,104, which is Target 1. Therefore, entering a fresh market sell at this level may be risky.
It is safer to wait for the price to retrace toward the entry zone and look for confirmation such as:
Bearish engulfing candle
Strong rejection wick
Lower-timeframe bearish Change of Character
Break and retest of support
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.