On the 1H chart, XAUUSD is currently testing a strong supply zone around 3,395 – 3,400, coinciding with a visible range high-volume node. Price has shown multiple rejections from this area, suggesting that sellers are stepping in.
Key Observations:
Supply Zone: 3,395 – 3,400 (red zone) – price failing to break and sustain above.
Demand Zone: 3,311 – 3,318 (green zone) – previous accumulation area.
Mid Support: 3,345 – potential first target for short positions.
Market Structure: Multiple lower highs forming near supply; possible double top pattern forming.
Volume Profile: High selling pressure in the current region.
Plan:
Expecting a potential rejection from the supply zone with a move down towards 3,345, and if broken, further downside to the 3,311 demand zone. Stops should be placed above the recent swing high at ~3,400 to protect against false breakouts.
Bearish Confirmation:
Clear rejection candle from supply
Break of minor intraday support at 3,370
Increasing selling volume
Disclaimer:
This is for educational purposes only, not financial advice. Always do your own analysis before entering trades.
Key Observations:
Supply Zone: 3,395 – 3,400 (red zone) – price failing to break and sustain above.
Demand Zone: 3,311 – 3,318 (green zone) – previous accumulation area.
Mid Support: 3,345 – potential first target for short positions.
Market Structure: Multiple lower highs forming near supply; possible double top pattern forming.
Volume Profile: High selling pressure in the current region.
Plan:
Expecting a potential rejection from the supply zone with a move down towards 3,345, and if broken, further downside to the 3,311 demand zone. Stops should be placed above the recent swing high at ~3,400 to protect against false breakouts.
Bearish Confirmation:
Clear rejection candle from supply
Break of minor intraday support at 3,370
Increasing selling volume
Disclaimer:
This is for educational purposes only, not financial advice. Always do your own analysis before entering trades.
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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.