🧠 Chart Summary:
Pair: XAUUSD (Gold Spot)
Time Frame: H4
Market is clearly in a downtrend – you can spot those Lower Highs (LH) and Lower Lows (LL).
Price hit a supply zone (marked in red) and instantly got rejected – clean bounce.
It also touched the “Yesterday High” and then dropped – nice sign of strong resistance.
Now price is heading down toward Fibonacci retracement levels (50% and 61.8%) and “Yesterday Low.”
🔻 SELL Trade Breakdown
Factor Notes
Trend Bearish – structure shows LH and LL
Entry Zone Price rejected hard from that supply zone (red area)
Candle Confirmation Bearish engulfing setup around that resistance zone
Stop Loss Just above the red zone / “Yesterday High” (around 3,250–3,260)
TP 1 Around 3,168 (Fibo 50%)
TP 2 Around 3,121 (Fibo 61.8% + Yesterday Low)
Momentum Solid bearish pressure – broke minor support, looks ready to drop
📈 SELL Plan Summary:
Sell Entry: Current level or wait for a retest around 3,240–3,250
Stop Loss: Above 3,260 (above that red zone)
Take Profits:
TP1: 3,168 (50% fibo)
TP2: 3,121 (61.8% fibo + previous day’s low)
Pair: XAUUSD (Gold Spot)
Time Frame: H4
Market is clearly in a downtrend – you can spot those Lower Highs (LH) and Lower Lows (LL).
Price hit a supply zone (marked in red) and instantly got rejected – clean bounce.
It also touched the “Yesterday High” and then dropped – nice sign of strong resistance.
Now price is heading down toward Fibonacci retracement levels (50% and 61.8%) and “Yesterday Low.”
🔻 SELL Trade Breakdown
Factor Notes
Trend Bearish – structure shows LH and LL
Entry Zone Price rejected hard from that supply zone (red area)
Candle Confirmation Bearish engulfing setup around that resistance zone
Stop Loss Just above the red zone / “Yesterday High” (around 3,250–3,260)
TP 1 Around 3,168 (Fibo 50%)
TP 2 Around 3,121 (Fibo 61.8% + Yesterday Low)
Momentum Solid bearish pressure – broke minor support, looks ready to drop
📈 SELL Plan Summary:
Sell Entry: Current level or wait for a retest around 3,240–3,250
Stop Loss: Above 3,260 (above that red zone)
Take Profits:
TP1: 3,168 (50% fibo)
TP2: 3,121 (61.8% fibo + previous day’s low)
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.