XAUUSD: Tests Descending Trendline – Bears Eye Another Move Down
Hello everyone, here is my breakdown of the current XAUUSD setup.
Market Analysis
XAUUSD previously traded inside a large symmetrical triangle before breaking below support, confirming a bearish shift. Price later attempted several recoveries but continued forming lower highs beneath the long-term descending trendline, while repeated breakouts above the triangle support line failed to produce sustained bullish momentum.
Currently, XAUUSD is trading below the 4,080 Resistance Zone while holding above the 3,940 Support Zone. Price continues to respect the descending trendline, suggesting sellers remain in control despite the recent recovery attempt.
My Scenario & Strategy
As long as XAUUSD remains below the 4,080 Resistance Zone and continues respecting the descending trendline, the bearish scenario remains valid. A rejection from current levels could push price toward the 3,940 Support Zone (TP1).
However, if XAUUSD breaks above the 4,080 Resistance Zone and the descending trendline, the bearish outlook would weaken, opening the door for a stronger bullish recovery.
That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.
Market Analysis
XAUUSD previously traded inside a large symmetrical triangle before breaking below support, confirming a bearish shift. Price later attempted several recoveries but continued forming lower highs beneath the long-term descending trendline, while repeated breakouts above the triangle support line failed to produce sustained bullish momentum.
Currently, XAUUSD is trading below the 4,080 Resistance Zone while holding above the 3,940 Support Zone. Price continues to respect the descending trendline, suggesting sellers remain in control despite the recent recovery attempt.
My Scenario & Strategy
As long as XAUUSD remains below the 4,080 Resistance Zone and continues respecting the descending trendline, the bearish scenario remains valid. A rejection from current levels could push price toward the 3,940 Support Zone (TP1).
However, if XAUUSD breaks above the 4,080 Resistance Zone and the descending trendline, the bearish outlook would weaken, opening the door for a stronger bullish recovery.
That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.
Dagangan aktif
So far, buyers have managed to break the trend line and rise to key resistance. If they manage to break it, the scenario is canceled, if not, a pullback to our target is quite possible.Dagangan ditutup secara manual
Gold broke the trend line and key support zone!
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Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
🚀If you want became part of my trading team & start making big profits welcome to my paid VIP signals group, write me✏️ t.me/ratner_1
❤️Welcome to my telegram channel👉🏼 t.me/ratner_trading
❤️Welcome to my telegram channel👉🏼 t.me/ratner_trading
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.