XAUUSD / GOLD Weekly Sell Projection Explanation
The chart shows a bearish weekly outlook, but it expects gold to make a temporary upward retracement before the larger decline.
Main selling zone: 4,190–4,215
This area is considered a strong resistance zone because several technical factors meet there:
0.50 Fibonacci level near 4,162
0.618 Fibonacci level near 4,215
Previous wick rejection and supply area
Fair Value Gap (FVG)
Descending trendline resistance
The bullish engulfing candle and spinning-top formation suggest that gold may first recover toward this resistance zone. A bearish rejection candle from 4,190–4,215 would provide stronger confirmation for the sell setup.
Trade levels shown on the chart
Potential sell zone: 4,190–4,215
Stop-loss: Above 4,249–4,250
TP1: Around 4,162
TP2: Around 4,085–4,095
TP3: Around 4,045–4,055
TP4: Around 4,000
Long-term targets: Approximately 3,870 and 3,743
The chart shows a bearish weekly outlook, but it expects gold to make a temporary upward retracement before the larger decline.
Main selling zone: 4,190–4,215
This area is considered a strong resistance zone because several technical factors meet there:
0.50 Fibonacci level near 4,162
0.618 Fibonacci level near 4,215
Previous wick rejection and supply area
Fair Value Gap (FVG)
Descending trendline resistance
The bullish engulfing candle and spinning-top formation suggest that gold may first recover toward this resistance zone. A bearish rejection candle from 4,190–4,215 would provide stronger confirmation for the sell setup.
Trade levels shown on the chart
Potential sell zone: 4,190–4,215
Stop-loss: Above 4,249–4,250
TP1: Around 4,162
TP2: Around 4,085–4,095
TP3: Around 4,045–4,055
TP4: Around 4,000
Long-term targets: Approximately 3,870 and 3,743
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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.