(XAU/USD) - Bearish Continuation Setup | Key Levels & Targets

Gold (XAU/USD) - Bearish Continuation Setup | Key Levels & Targets

Market Overview:

Gold has been trading within a well-defined descending channel on the 3-hour timeframe, indicating sustained bearish pressure. The price action suggests a potential breakdown if key resistance levels hold.

Trade Setup:

📌 Entry Zone: Near 2918 (current market price)
📌 Take Profit: 2930 (first target for short-term scalpers)
📌 Final Target: 2979 (major support zone)
📌 Stop Loss: 2890 (above resistance to limit risk)

Technical Outlook:

The price is rejecting the upper boundary of the channel.

A break below 2918 could accelerate selling pressure toward 2979.

If Gold breaks above the descending trendline, bullish momentum may take over.


Conclusion:

This setup offers a high-probability short opportunity with a well-defined risk-reward ratio. Traders should monitor price action for confirmation before entering.

📊 Do you agree with this analysis? Drop your thoughts in the comments!