MY analysis on Gold in 1H chart its again downwords

3月3日

gold xauusd is in downword we can take sell positions for some time as it almost touches the EMA200 and again going downwords .
Key Observations:
Downtrend Channel Breakout:

The price was previously in a descending channel (marked in blue).
A breakout to the upside occurred, signaling a potential reversal or retracement.
200 EMA Resistance (Blue Line at ~2897):

The price approached the 200 EMA, which is a strong dynamic resistance.
The rejection at this level (highlighted by the red arrow) suggests selling pressure.
Bearish Rejection (Yellow Circle & Red Arrow):

A wick at the 200 EMA shows that buyers attempted to push higher but faced resistance.
This could be a sign of a potential trend continuation to the downside.
Potential Downside Target (Blue & Red Zones):

A short-term support zone is marked in blue, where price might retest.
A larger support block (red zone) indicates a deeper pullback if bearish momentum continues.
Volume Increasing:

Volume is rising, which could indicate stronger price action, whether continuation or reversal.
Possible Trading Scenarios:
Bearish Case (Most Likely):

If price continues to reject the 200 EMA, it could drop toward the red support zone (~2,860-2,870).
A break below this level could lead to further downside.
Bullish Case (Less Likely):

If price reclaims the 200 EMA and holds above it, it could target the next resistance zone (~2,920).
Conclusion:
Bias: Bearish below 200 EMA unless price breaks above.
Potential Trade: Watch for a retest of the blue zone for a possible short entry targeting the red support block.
Would you like an entry/exit plan based on this setup?

3月3日

交易進行

sell entry from 2884

3月3日

註釋

📈 gold Trade Update 📈

✅ sell Entry: 2884
🎯 Take Profit: 2880.,60 pips✅ (Successfully Reached!)
profit running start

3月3日

註釋

📈 gold Trade Update 📈

✅ sell Entry: 2884
🎯 Take Profit: 2877.,90 pips✅ (Successfully Reached!)
profit running start