The price perfectly fulfilled my previous idea. 
XAUUSD is bouncing from recent lows but remains under pressure below the key resistance at 3,331.90 and the downward trendline. The prior rejection near 3,440 led to a steep selloff with a clean break below the upward channel. Current action shows a potential lower high forming near the broken trendline. A rejection there could send gold tumbling toward the 3,250.00 support zone.
📌 Key Levels
💡 Risks
XAUUSD is bouncing from recent lows but remains under pressure below the key resistance at 3,331.90 and the downward trendline. The prior rejection near 3,440 led to a steep selloff with a clean break below the upward channel. Current action shows a potential lower high forming near the broken trendline. A rejection there could send gold tumbling toward the 3,250.00 support zone.📌 Key Levels
- Sell trigger: Failure to reclaim 3,331.90
- Sell zone: 3,330 – 3,340
- Target: 3,250.00
- Invalidation: Strong bullish breakout above 3,340 and descending trendline
💡 Risks
- Bullish reversal breaking above downward trendline
- Dovish Fed news boosting gold
- Unexpected macroeconomic shocks increasing safe-haven demand
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 remains confined within a clean downward channel, with consistent lower lows and failed breakouts above the trendline. The price is currently testing the mid-range resistance near 3,302. A rejection here aligns with the dominant bearish structure and could initiate a drop back to the 3,255 support area. This suggests a SELL bias as long as price stays below the blue trendline.
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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.