1. Current Trend: Bearish
The price is currently in a downtrend, confirmed by lower highs and lower lows.
“ChOCH” (Change of Character) and “BOS” (Break of Structure) labels indicate market structure shifts.
2. Key Zones:
Resistance Area (~3252): Former support, now resistance after BOS.
Support Area (3222–23): Price is hovering here; identified as critical.
If this area breaks, further downside is expected (continuation of bearish trend).
3. Bullish Reversal Setup:
If the support holds, the chart suggests a potential bullish move.
A "rounded bottom" or accumulation pattern is forming.
Target zone is around 3286–87, offering a risk-reward setup of ~2% gain.
4. Trade Idea:
Buy Entry: Near support (3222–23), if bullish confirmation forms.
Stop-Loss: Below the weak low (marked at the bottom).
Target: Resistance at ~3286 (shown by green arrow).
5. Important Notes on the Chart:
The author warns: “If price breaks this support area it can further drops”—so avoid premature buys.
Also, “Note!! Price is in bearish trend…” — meaning any long trades are counter-trend and should be treated cautiously.
Suggestions:
Wait for confirmation: Before entering a buy, wait for a bullish candlestick pattern or BOS in the opposite direction.
Trend-following traders may prefer to short a breakdown of the support zone.
Risk management is key, especially since this is a counter-trend setup.
The price is currently in a downtrend, confirmed by lower highs and lower lows.
“ChOCH” (Change of Character) and “BOS” (Break of Structure) labels indicate market structure shifts.
2. Key Zones:
Resistance Area (~3252): Former support, now resistance after BOS.
Support Area (3222–23): Price is hovering here; identified as critical.
If this area breaks, further downside is expected (continuation of bearish trend).
3. Bullish Reversal Setup:
If the support holds, the chart suggests a potential bullish move.
A "rounded bottom" or accumulation pattern is forming.
Target zone is around 3286–87, offering a risk-reward setup of ~2% gain.
4. Trade Idea:
Buy Entry: Near support (3222–23), if bullish confirmation forms.
Stop-Loss: Below the weak low (marked at the bottom).
Target: Resistance at ~3286 (shown by green arrow).
5. Important Notes on the Chart:
The author warns: “If price breaks this support area it can further drops”—so avoid premature buys.
Also, “Note!! Price is in bearish trend…” — meaning any long trades are counter-trend and should be treated cautiously.
Suggestions:
Wait for confirmation: Before entering a buy, wait for a bullish candlestick pattern or BOS in the opposite direction.
Trend-following traders may prefer to short a breakdown of the support zone.
Risk management is key, especially since this is a counter-trend setup.
交易進行
Gold Bullish 250 pips hit Gold Has breaks its Resistance Zone Now focus on the target 交易結束：目標達成
Target hit Trade running on 3313 almost 800 pips 
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