(Gold, 1H timeframe), the setup looks like a rejection from a descending trendline with a marked demand zone below.
📉 Short bias breakdown:
Price just tapped the trendline resistance
Rejection candles forming → sellers stepping in
Clear support/demand zone highlighted below
🎯 Target:
My marked zone is the correct area.
Primary target:
➡️ 4,670 – 4,680
🧠How I’d read it:
First reaction likely around 4,690 (minor structure)
If momentum continues → full move into the demand zone
That zone is where buyers previously stepped in → expect bounce or consolidation
⚠️ Keep in mind:
If price breaks and closes above trendline, this setup is invalid
Watch volume — strong bearish volume supports the move
📉 Short bias breakdown:
Price just tapped the trendline resistance
Rejection candles forming → sellers stepping in
Clear support/demand zone highlighted below
🎯 Target:
My marked zone is the correct area.
Primary target:
➡️ 4,670 – 4,680
🧠How I’d read it:
First reaction likely around 4,690 (minor structure)
If momentum continues → full move into the demand zone
That zone is where buyers previously stepped in → expect bounce or consolidation
⚠️ Keep in mind:
If price breaks and closes above trendline, this setup is invalid
Watch volume — strong bearish volume supports the move
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Declinazione di responsabilitĂ
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.