Hi there,
A bearish outlook for gold (XAUUSD) on the 1-hour timeframe, with a bias toward the 3,100 area, targeting the highlighted demand zones.
Price-Movement Structure
We observe a three-wave corrective pattern that appears complete at the 3,494.98 high. Key observations:
- **Wave (A)** : Initial correction from the major low.
- **Wave (B)** : Complex sideways consolidation.
- **Wave (C)** : Extension to new highs, creating liquidity.
The current price action suggests potential institutional distribution at the highs. I am expecting a drop to approximately 3,349.94.
However, fundamentals such as interest rates, dollar strength, and geopolitical risks remain key drivers of bullish optimism.
Happy Trading,
K.
Not trading advice
A bearish outlook for gold (XAUUSD) on the 1-hour timeframe, with a bias toward the 3,100 area, targeting the highlighted demand zones.
Price-Movement Structure
We observe a three-wave corrective pattern that appears complete at the 3,494.98 high. Key observations:
- **Wave (A)** : Initial correction from the major low.
- **Wave (B)** : Complex sideways consolidation.
- **Wave (C)** : Extension to new highs, creating liquidity.
The current price action suggests potential institutional distribution at the highs. I am expecting a drop to approximately 3,349.94.
However, fundamentals such as interest rates, dollar strength, and geopolitical risks remain key drivers of bullish optimism.
Happy Trading,
K.
Not trading advice
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.