XAUUSD has been respecting a broad ascending channel for months, with clear touches on both resistance and support levels. Recently, however, price slipped into a smaller bearish channel inside the larger structure.
📉 The short-term bias remains bearish as long as price trades within the red channel.
📊 Key support lies near the $3,280 zone — a critical level where bulls might attempt to step in.
💡 A breakout from the bearish channel could open the way for another retest of the upper resistance zone, while failure to hold support may trigger deeper corrections.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
📉 The short-term bias remains bearish as long as price trades within the red channel.
📊 Key support lies near the $3,280 zone — a critical level where bulls might attempt to step in.
💡 A breakout from the bearish channel could open the way for another retest of the upper resistance zone, while failure to hold support may trigger deeper corrections.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Trade Made Simple
RichTL.com
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RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
CFD Broker - TradeNation
cutt.ly/GrTivmRC
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.
Trade Made Simple
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
CFD Broker - TradeNation
cutt.ly/GrTivmRC
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
CFD Broker - TradeNation
cutt.ly/GrTivmRC
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.