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Currently monitoring Gold (XAUUSD) after a short-term bullish push toward the 3318 resistance zone. This area is significant due to:
Confluence with the upper Bollinger Band
Previous horizontal resistance level
Loss of momentum shown on MACD and other lower timeframes (15m–1h)
Price action is slowing as we approach the overbought territory. If price fails to break above 3318 and prints a clear reversal candlestick (e.g., pin bar or bearish engulfing) on the 1H chart, I’ll be looking for a short setup.
Disclaimer:This analysis reflects my personal view and is shared for educational purposes only. It does not constitute financial advice or a recommendation to enter any trade. Always do your own research and manage your risk accordingly. ⚠️
Currently monitoring Gold (XAUUSD) after a short-term bullish push toward the 3318 resistance zone. This area is significant due to:
Confluence with the upper Bollinger Band
Previous horizontal resistance level
Loss of momentum shown on MACD and other lower timeframes (15m–1h)
Price action is slowing as we approach the overbought territory. If price fails to break above 3318 and prints a clear reversal candlestick (e.g., pin bar or bearish engulfing) on the 1H chart, I’ll be looking for a short setup.
Disclaimer:This analysis reflects my personal view and is shared for educational purposes only. It does not constitute financial advice or a recommendation to enter any trade. Always do your own research and manage your risk accordingly. ⚠️
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.