XAU/USD) Bearish trand analysis Read The Chaptian

SMC Trading point update



This chart analysis is for Gold Spot (XAU/USD) on the 1-hour timeframe. Here’s a breakdown of the idea shown:


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Key Points in the Analysis:

1. Current Price:

XAU/USD is around $2,982.92 at the time of the chart.



2. Trend:

The chart suggests a bearish outlook.

Price has been consistently rejected from the yellow supply zone (around 3,020–3,033).

EMA 200 (blue line) is above the current price, confirming downward momentum.



3. Rejection Zone:

Marked in yellow between 3,020 and 3,033. Labeled as “Reject points”.

Price failed to break above this zone multiple times.



4. Breakout Pattern:

Two descending rectangles highlight bearish continuation patterns.

A bearish flag or wedge is visible, followed by a breakout downward.



5. Target Zone:

Highlighted in yellow between 2,900 and 2,921, with target point at 2,920.615.

Price is expected to move down to this level.



6. RSI (Relative Strength Index):

RSI is declining and shows bearish divergence, supporting downside move.

Currently around 39.19, which is closer to oversold territory but still has room to drop.


Mr SMC Trading point


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Trade Idea Summary:

Bias: Bearish

Entry Area: Rejection near 3,020–3,033 zone

Target: 2,920.615 (highlighted support zone)

Stop Loss: Could be placed above 3,033 (supply zone or EMA 200)

Confluence Factors:

EMA 200 rejection

Bearish RSI divergence

Repeated supply rejection

Breakout from bear flag structures



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