GOLD (XAUUSD) 1H: Retest of Trendline Resistance & Supply Zone ?
Technical Overview:
Gold (XAUUSD) on the 1-hour chart has broken down from its previous Upward Channel after failing near the 4,200 key resistance area. Price is currently forming lower highs below a strong descending Trendline
Trade Plan & Key Levels:Supply Zone / Resistance: 4,150 – 4,160 Descending Resistance: Downward-sloping trendline acting as dynamic resistance Target: 4,110 (Previous swing low / key support level)
Execution Strategy:Pullback & Retest: Looking for price to make a minor corrective move upward toward the 4,150 – 4,160 supply zone. Confirmation: Watch for bearish price action signals (e.g., bearish engulfing candles, rejection wicks) around the confluence of the Supply Zone and Trendline. Bearish Continuation: Once rejected, expect momentum to push price down toward the main Target at 4,110.
Gold (XAUUSD) on the 1-hour chart has broken down from its previous Upward Channel after failing near the 4,200 key resistance area. Price is currently forming lower highs below a strong descending Trendline
Trade Plan & Key Levels:Supply Zone / Resistance: 4,150 – 4,160 Descending Resistance: Downward-sloping trendline acting as dynamic resistance Target: 4,110 (Previous swing low / key support level)
Execution Strategy:Pullback & Retest: Looking for price to make a minor corrective move upward toward the 4,150 – 4,160 supply zone. Confirmation: Watch for bearish price action signals (e.g., bearish engulfing candles, rejection wicks) around the confluence of the Supply Zone and Trendline. Bearish Continuation: Once rejected, expect momentum to push price down toward the main Target at 4,110.
Trade closed: target reached
XAUUSD Full target achieved, with 450+ pips running in our direction! 🔥
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Join My Telegram Channel Free:
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t.me/+rpAk5p9v5NYwMGY0
Daily 500+ Pips Target
For more Charts and Signals Join:
t.me/+rpAk5p9v5NYwMGY0
Contact: t.me/fx_martin07
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.