The price perfectly fulfilled my previous idea. 
XAUUSD broke down sharply after forming a local top at the 3433 resistance zone, with clear bearish momentum dominating recent candles. Price is now consolidating below the broken trendline and previous structure at 3349, setting up for a possible retest and rejection. If price confirms rejection under this resistance, continuation toward the 3288 support area becomes highly likely. A lower high formation below the blue upward trendline would validate the bearish thesis.
📉 Key Levels
💡 Risks
XAUUSD broke down sharply after forming a local top at the 3433 resistance zone, with clear bearish momentum dominating recent candles. Price is now consolidating below the broken trendline and previous structure at 3349, setting up for a possible retest and rejection. If price confirms rejection under this resistance, continuation toward the 3288 support area becomes highly likely. A lower high formation below the blue upward trendline would validate the bearish thesis.📉 Key Levels
- Sell trigger: Rejection near 3349–3350
- Sell zone: 3345–3355
- Target: 3288
- Invalidation: Break above 3355 and trendline recovery
💡 Risks
- Sudden bullish breakout could reclaim upward trendline
- Support near 3288 may create a rebound
- Thin liquidity could exaggerate short-term wicks
If this idea resonates with you or you have your own opinion, traders, hit the comments. I’m excited to read your thoughts!
Trade active
XAUUSD is trading in a downward channel and recently rebounded from a lower low near the 3,300 support level. Price is now pulling back toward the 3,350 resistance zone, with sluggish bullish momentum hinting at limited upside. A rejection near the confluence of the upward trendline and horizontal resistance could signal a new bearish leg toward the 3,290 target zone. Bulls must reclaim zone above 3,350 to regain control and shift sentiment upward.
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🌎WebSite: lingrid.org
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.
💰FREE FOREX signals in Telegram: bit.ly/3F4mrMi
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
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.