XAUUSD on the H4 timeframe is trading around 4,103, after continuing to weaken and losing its short-term equilibrium. Notably, gold remains below the declining trendline that has lasted since the beginning of June, indicating that recent recovery attempts have not been strong enough to change the bearish structure.
The 4,203 level is currently a crucial resistance point. This is where the upper Ichimoku zone, the downtrend line, and the area where the price was previously sold off converge. If XAUUSD rebounds to this area but fails to close a clear H4 candle above it, selling pressure is likely to return more strongly.
My preferred scenario is a technical rebound to the 4,170-4,203 range, followed by rejection and a continued decline towards the psychological support level of 4,000. With the USD still strong and the Fed continuing to put pressure on gold, the current rallies should be considered areas to look for SELL opportunities in line with the trend.
Entry Focus: Prioritize SELL around 4,170 – 4,203 on price rejection signals.
Target: 4,000
Invalidation: The bearish scenario becomes invalid if the H4 candle closes clearly above 4,230.
As long as XAUUSD hasn't reclaimed the 4,203 – 4,230 range, sellers remain in control. The 4,000 mark will be a potential retest area in the next rally.
The 4,203 level is currently a crucial resistance point. This is where the upper Ichimoku zone, the downtrend line, and the area where the price was previously sold off converge. If XAUUSD rebounds to this area but fails to close a clear H4 candle above it, selling pressure is likely to return more strongly.
My preferred scenario is a technical rebound to the 4,170-4,203 range, followed by rejection and a continued decline towards the psychological support level of 4,000. With the USD still strong and the Fed continuing to put pressure on gold, the current rallies should be considered areas to look for SELL opportunities in line with the trend.
Entry Focus: Prioritize SELL around 4,170 – 4,203 on price rejection signals.
Target: 4,000
Invalidation: The bearish scenario becomes invalid if the H4 candle closes clearly above 4,230.
As long as XAUUSD hasn't reclaimed the 4,203 – 4,230 range, sellers remain in control. The 4,000 mark will be a potential retest area in the next rally.
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LEVEL UP YOUR TRADING
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Signals & setups to boost your edge
Free trading plans to follow
Real-time market insights
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Signals & setups to boost your edge
Free trading plans to follow
Real-time market insights
Powiązane publikacje
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.