Weekly: XAUEUR closed last week with a strong bearish candle, breaking below a key weekly support level. This signals a potential shift in long-term momentum.
Daily: Price decisively broke the internal bullish structure and dropped below the rising trendline and both 14EMA and 50EMA. This breakdown happened with strong bearish momentum, indicating that sellers are in control.
4H: A clear structure break to the downside is visible. Lower highs and lower lows are forming, confirming a fresh downtrend. Price stays well below EMAs, reinforcing the bearish sentiment.
Plan:
Bias: Bearish 🔻
Entry: Sell on lower timeframe pullback or break below recent 4H minor support
Targets:
🎯 TP1: Recent 4H swing low
🎯 TP2: Daily support zone
Invalidation: Break and close above recent 4H lower high or reclaim above EMAs
Daily: Price decisively broke the internal bullish structure and dropped below the rising trendline and both 14EMA and 50EMA. This breakdown happened with strong bearish momentum, indicating that sellers are in control.
4H: A clear structure break to the downside is visible. Lower highs and lower lows are forming, confirming a fresh downtrend. Price stays well below EMAs, reinforcing the bearish sentiment.
Plan:
Bias: Bearish 🔻
Entry: Sell on lower timeframe pullback or break below recent 4H minor support
Targets:
🎯 TP1: Recent 4H swing low
🎯 TP2: Daily support zone
Invalidation: Break and close above recent 4H lower high or reclaim above EMAs
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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.