XAU/USD) Back support level Read The caption

6月16日

SMC trading point update



Technical analysis of XAU/USD (Gold Spot vs U.S. Dollar) – 2H Timeframe:


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XAU/USD Bearish Rejection from Resistance – Short-Term Sell Setup

Key Observations:

1. Rejection from Upper Channel & Resistance Zone:

Price was rejected sharply after touching the upper boundary of the ascending channel and the newly established resistance zone (~3400–3420).

A strong bearish candle confirms selling pressure at the top.



2. Support Retest in Progress:

The price is currently descending toward the EMA 200 and the KYY support zone (approximately 3343–3348).

The previous bounce originated from this level, making it a significant retest zone.



3. EMA 200 as Confluence:

The 200 EMA (currently at 3346.92) aligns with the support zone, increasing the likelihood of a bounce or at least temporary pause in bearish momentum.



4. RSI Bearish Signal:

RSI has dropped below 50, confirming a momentum shift toward the downside.

Still above oversold territory, suggesting more downside room.





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Trade Idea:

Bias: Bearish (Short-Term)

Entry Zone: Around 3390–3400 (confirmed rejection area)

Target Zone: 3348 – 3343 (KYY support + EMA 200)

Stop Loss: Above 3425 (just above resistance zone)



Mr SMC Trading point

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Summary:

Gold has faced a clear rejection at a key resistance zone within an ascending channel, and is now targeting the EMA 200 and previous structural support. Short opportunities could be considered toward the 3343–3348 zone, with RSI and price action supporting the move.





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6月17日

交易進行

6月19日

交易結束：目標達成

done for target pint