XAUUSD ANALYSIS IS READY TO DROP DOWN MUST READ THE CAPTION

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This chart depicts the price action of Gold (XAU/USD) on the 1-hour timeframe using Heikin Ashi candles. Below is the description:

1. Key Levels:

Stop Loss (Red Line): Positioned at 2671.01, this represents the level to exit the trade if the market moves against the position.

Break Level (Gray Zone): Around 2660.28, this acts as a potential confirmation area for a trend change or continuation.

Target (Blue Line): Set at 2630.71, indicating the take-profit level.



2. Trend Analysis:

The price has been fluctuating within an upward green channel before breaking downward.

The yellow highlighted zone shows consolidation or a potential pullback area before the expected move.



3. Prediction:

Blue arrows suggest an anticipated bearish movement.

The price is expected to retest the break level (2660.28) before dropping toward the target of 2630.71.



4. Trading Plan:

Short position from the break level with a target at 2630.71.

Risk management with a stop loss at 2671.01.




This chart appears to focus on a bearish setup, with the assumption that the price will follow the outlined downward movement after retesting resistance.

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