Key Observations from the Chart:
Wedge Structure: Price has been oscillating inside an upward-sloping wedge (green shaded area) while the overall larger trend (dashed black line) remains bearish/downward.
Failed Upside Attempt: The market tested the upper boundary of the wedge but couldn’t break out convincingly → rejection, which aligns with your comment about it being “risky to hold any type of trade” right now.
Current Price: ~1.1410 (as shown).
Range-Bound Behavior: Clear horizontal levels at ~1.1480, 1.1540–1.1560, and 1.1590–1.1600 acting as resistance zones.
Your Highlighted Selling Zones (Valid Confluence): Fibo Golden Level (1.1540 – 1.1560) → Strong area. This often coincides with 0.618–0.786 retracement or golden pocket levels.
Bearish Order Block (1.1590 – 1.15960) → Good supply zone, especially if it aligns with the upper wedge boundary and previous highs.
These two zones make sense as high-probability sell areas if price reaches them with bearish confirmation (rejection candles, divergence, etc.).Current Market Structure: Bias: Neutral-to-bearish while inside the wedge. No clear breakout yet.
Support: Near 1.1380–1.1400 (recent lows) and the lower wedge trendline.
Resistance: Immediate 1.1480, then your mentioned 1.1540–1.1560 and 1.1590+.
Best Approach Right Now: Wait for confirmation. As you said — avoid forcing trades in the middle of the wedge.
Watch for a decisive breakout above the wedge (especially clearing 1.1480–1.1500 zone) → that would be your signal to look for sells at the higher zones you mentioned.
If price breaks down instead and loses the lower wedge line + 1.1380, it opens the door for deeper downside.
This is not a financial advice. DYOR! Trade at your own risk.
This is only for educational purpose.
Wedge Structure: Price has been oscillating inside an upward-sloping wedge (green shaded area) while the overall larger trend (dashed black line) remains bearish/downward.
Failed Upside Attempt: The market tested the upper boundary of the wedge but couldn’t break out convincingly → rejection, which aligns with your comment about it being “risky to hold any type of trade” right now.
Current Price: ~1.1410 (as shown).
Range-Bound Behavior: Clear horizontal levels at ~1.1480, 1.1540–1.1560, and 1.1590–1.1600 acting as resistance zones.
Your Highlighted Selling Zones (Valid Confluence): Fibo Golden Level (1.1540 – 1.1560) → Strong area. This often coincides with 0.618–0.786 retracement or golden pocket levels.
Bearish Order Block (1.1590 – 1.15960) → Good supply zone, especially if it aligns with the upper wedge boundary and previous highs.
These two zones make sense as high-probability sell areas if price reaches them with bearish confirmation (rejection candles, divergence, etc.).Current Market Structure: Bias: Neutral-to-bearish while inside the wedge. No clear breakout yet.
Support: Near 1.1380–1.1400 (recent lows) and the lower wedge trendline.
Resistance: Immediate 1.1480, then your mentioned 1.1540–1.1560 and 1.1590+.
Best Approach Right Now: Wait for confirmation. As you said — avoid forcing trades in the middle of the wedge.
Watch for a decisive breakout above the wedge (especially clearing 1.1480–1.1500 zone) → that would be your signal to look for sells at the higher zones you mentioned.
If price breaks down instead and loses the lower wedge line + 1.1380, it opens the door for deeper downside.
This is not a financial advice. DYOR! Trade at your own risk.
This is only for educational purpose.
✅ ACCOUNT MANAGEMENT
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✅ XAUUSD MARKET UPDATE
t.me/+UamB2uCTUtkzMmQ0
✅ XAUUSD BACKUP CHANNEL
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XM BROKER
PARTNER CODE : K4HPT
t.me/Traderr5757
✅ XAUUSD MARKET UPDATE
t.me/+UamB2uCTUtkzMmQ0
✅ XAUUSD BACKUP CHANNEL
t.me/+mDhkrPtwZ4o1ZTE0
XM BROKER
PARTNER CODE : K4HPT
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.
✅ ACCOUNT MANAGEMENT
t.me/Traderr5757
✅ XAUUSD MARKET UPDATE
t.me/+UamB2uCTUtkzMmQ0
✅ XAUUSD BACKUP CHANNEL
t.me/+mDhkrPtwZ4o1ZTE0
XM BROKER
PARTNER CODE : K4HPT
t.me/Traderr5757
✅ XAUUSD MARKET UPDATE
t.me/+UamB2uCTUtkzMmQ0
✅ XAUUSD BACKUP CHANNEL
t.me/+mDhkrPtwZ4o1ZTE0
XM BROKER
PARTNER CODE : K4HPT
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.