🕒 30-Minute Chart | 🗓️ June 12, 2025
Gold is trading within a well-defined ascending parallel channel, respecting both upper and lower bounds consistently. Currently, price has:
🔹 Rejected the upper boundary of the channel.
🔹 Formed a possible double-top or liquidity sweep, suggesting a potential short-term top.
🔹 Entered a supply zone, marked in red, where selling pressure has re-emerged.
🔹 A strong bearish engulfing move indicates sellers are regaining control.
🎯 Trade Idea:
Entry: Near 3,385–3,390 USD (supply zone rejection)
Target: Lower boundary of the channel around 3,324–3,318 USD
Stop Loss: Just above the recent high (~3,413 USD)
📌 Volume Profile: Visible volume nodes show heavy activity near 3,375 USD and 3,360 USD, which might act as interim support.
📉 Bearish bias until price either:
Breaks below the mid-channel zone (~3,360 USD), or
Reclaims and holds above the red supply zone.
🧠 Watch for reactions at key support levels – if buyers return, it could signal a channel continuation instead of a full breakdown.
Gold is trading within a well-defined ascending parallel channel, respecting both upper and lower bounds consistently. Currently, price has:
🔹 Rejected the upper boundary of the channel.
🔹 Formed a possible double-top or liquidity sweep, suggesting a potential short-term top.
🔹 Entered a supply zone, marked in red, where selling pressure has re-emerged.
🔹 A strong bearish engulfing move indicates sellers are regaining control.
🎯 Trade Idea:
Entry: Near 3,385–3,390 USD (supply zone rejection)
Target: Lower boundary of the channel around 3,324–3,318 USD
Stop Loss: Just above the recent high (~3,413 USD)
📌 Volume Profile: Visible volume nodes show heavy activity near 3,375 USD and 3,360 USD, which might act as interim support.
📉 Bearish bias until price either:
Breaks below the mid-channel zone (~3,360 USD), or
Reclaims and holds above the red supply zone.
🧠 Watch for reactions at key support levels – if buyers return, it could signal a channel continuation instead of a full breakdown.
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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.