🔎 XAUUSD (Gold Spot) 2H Chart Analysis:
✅ Price recently made a strong bullish rally up to the resistance zone between 3346–3368.
✅ A supply zone has been marked in this area, which is currently causing a bearish reaction.
✅ BOS (Break of Structure) and ChoCH (Change of Character) labels on the chart indicate that the overall market structure has been bearish, and price has now retraced to this supply area for a potential pullback.
✅ The trader appears to have taken a short position with a stop loss around 3368 and a target around 3259, giving a risk-reward ratio of approximately 1:3.
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🔎 Possible Scenarios:
✅ Bearish Scenario (preferred):
If the supply zone at 3346–3368 holds and price rejects from there, the logical target could be the previous support near 3259, in line with market structure and bearish momentum.
✅ Bullish Scenario (invalidation):
If price breaks above 3368 with strength and confirms a candle close above, that would invalidate the supply zone, and the uptrend may resume toward higher levels around 3418 (previous highs).
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🔎 Key Levels:
✔️ Resistance (Supply Zone): 3346–3368
✔️ Support (Demand Zone): 3259–3244
✔️ Market Structure: bearish, with a pullback into supply
✔️ Stop loss (for the short): above 3368
✔️ Target: around 3259
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This analysis is not financial advice and does not constitute a trade recommendation.
XAUUSD
✅ Price recently made a strong bullish rally up to the resistance zone between 3346–3368.
✅ A supply zone has been marked in this area, which is currently causing a bearish reaction.
✅ BOS (Break of Structure) and ChoCH (Change of Character) labels on the chart indicate that the overall market structure has been bearish, and price has now retraced to this supply area for a potential pullback.
✅ The trader appears to have taken a short position with a stop loss around 3368 and a target around 3259, giving a risk-reward ratio of approximately 1:3.
---
🔎 Possible Scenarios:
✅ Bearish Scenario (preferred):
If the supply zone at 3346–3368 holds and price rejects from there, the logical target could be the previous support near 3259, in line with market structure and bearish momentum.
✅ Bullish Scenario (invalidation):
If price breaks above 3368 with strength and confirms a candle close above, that would invalidate the supply zone, and the uptrend may resume toward higher levels around 3418 (previous highs).
---
🔎 Key Levels:
✔️ Resistance (Supply Zone): 3346–3368
✔️ Support (Demand Zone): 3259–3244
✔️ Market Structure: bearish, with a pullback into supply
✔️ Stop loss (for the short): above 3368
✔️ Target: around 3259
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This analysis is not financial advice and does not constitute a trade recommendation.
XAUUSD 
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.
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.