Gold (XAUUSD) is currently showing signs of a potential reversal on the 15-minute timeframe. The price has approached a key Resistance Zone (~4,054) while trading within an established ascending channel.
Key observations:
Resistance: The price is struggling to break above the major resistance level.
Trend: We are seeing a potential breakdown from the ascending channel structure.
Setup: Looking for a corrective pullback or a confirmed break below the lower trendline for a potential short position.
Strategy: Waiting for a clear rejection candle or a break and retest of the channel support before looking for further downside targets.
Disclaimer: This is for educational purposes only and not financial advice."
Key observations:
Resistance: The price is struggling to break above the major resistance level.
Trend: We are seeing a potential breakdown from the ascending channel structure.
Setup: Looking for a corrective pullback or a confirmed break below the lower trendline for a potential short position.
Strategy: Waiting for a clear rejection candle or a break and retest of the channel support before looking for further downside targets.
Disclaimer: This is for educational purposes only and not financial advice."
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.