With confirmation in place, the market structure for $XAU is pointing toward the lower end of the range. The daily price is below both the EMA50 and EMA200, and the 4-hour chart has also failed to move above them. The two moving averages are forming a resistance band overhead, making any rebound look more like an opportunity for bears to take over. The 15-minute ADX is above 22, indicating that sellers are still setting the pace, while the 1-hour RSI remains in weak territory, with no signs of momentum recovering.
The key level is the dense trading zone above. If price rebounds into that area without a corresponding increase in volume, it will confirm the structure. Only after breaking below the first downside target will the remaining room truly open up. A rebound is still possible, but as long as price cannot reclaim the resistance above, the bearish case remains intact.
🔴 Trade direction: Short
📍 Entry range: 4159.72 – 4162.60
🛑 Stop loss: 4195.46
🎯 Take profit 1: 4135.43
🎯 Take profit 2: 4118.28
🎯 Take profit 3: 4092.55
Behold the vastness of mountains and seas; observe the market's finest details.
Walk with Uncle Xiong, and witness the gains and losses of the world.
#XAU
Click below to trade 👇
The key level is the dense trading zone above. If price rebounds into that area without a corresponding increase in volume, it will confirm the structure. Only after breaking below the first downside target will the remaining room truly open up. A rebound is still possible, but as long as price cannot reclaim the resistance above, the bearish case remains intact.
🔴 Trade direction: Short
📍 Entry range: 4159.72 – 4162.60
🛑 Stop loss: 4195.46
🎯 Take profit 1: 4135.43
🎯 Take profit 2: 4118.28
🎯 Take profit 3: 4092.55
Behold the vastness of mountains and seas; observe the market's finest details.
Walk with Uncle Xiong, and witness the gains and losses of the world.
#XAU
Click below to trade 👇