"XAU/USD Bearish Breakdown: Rising Wedge Signals Potential Decli
This chart represents the XAU/USD (Gold Spot vs. US Dollar) price movement on a 1-hour timeframe.
Technical Analysis
Ascending Channel (Blue Lines)
The price has been moving within an ascending channel, indicating an overall bullish trend.
However, a breakdown of the lower trendline could signal a shift in momentum.
Bearish Rising Wedge (Red Lines)
A rising wedge pattern has formed, which is typically a bearish reversal pattern.
The price has broken below the wedge’s support, signaling a potential downward move.
Conclusion
Bearish Bias: The breakdown of the rising wedge suggests a bearish move.
Potential Downside Targets: $2,920 and $2,910 levels.
Invalidation of Bearish Outlook: If the price reclaims and sustains above the resistance zone (~$2,940+), the bearish scenario would be invalidated.
Technical Analysis
Ascending Channel (Blue Lines)
The price has been moving within an ascending channel, indicating an overall bullish trend.
However, a breakdown of the lower trendline could signal a shift in momentum.
Bearish Rising Wedge (Red Lines)
A rising wedge pattern has formed, which is typically a bearish reversal pattern.
The price has broken below the wedge’s support, signaling a potential downward move.
Conclusion
Bearish Bias: The breakdown of the rising wedge suggests a bearish move.
Potential Downside Targets: $2,920 and $2,910 levels.
Invalidation of Bearish Outlook: If the price reclaims and sustains above the resistance zone (~$2,940+), the bearish scenario would be invalidated.
交易結束：目標達成
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This is why we trust our technicals and stay patient! 💡💰 If you caught this move, drop a 🔥 in the comments! More setups coming soon—let’s keep winning together!
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