XAU/USD Bearish Harmonic Pattern - Short Setup at Key Resistance
Pattern Formation:
A Bearish Harmonic Pattern (likely a Gartley or Butterfly) has formed on the XAU/USD 4-hour timeframe. This pattern indicates a potential trend reversal at the D point, aligning with a key resistance zone.
Key Levels:
🔹 Entry (Sell Zone): Around $2,879 - $2,880
🔹 Stop Loss: Above $2,885 (to avoid stop hunts)
🔹 Take Profit Targets:
TP1: $2,800 (First major support)
TP2: $2,740 (Extended move)
TP3: $2,726 (Final support level)
Technical Confluences:
✅ The pattern has completed at D, which aligns with a strong historical resistance level.
✅ Fibonacci ratios confirm harmonic structure, with XA, AB, BC, and CD waves respecting key retracement and extension levels.
✅ Bearish divergence on RSI/MACD (if applicable), suggesting weakening momentum.
✅ Price action near D shows potential rejection wicks, hinting at selling pressure.
Trade Execution Strategy:
🔸 Entry Method: Wait for a rejection candle or bearish confirmation (e.g., engulfing or pin bar).
🔸 Risk-Reward Ratio: Approx. 1:3, making this a high-probability setup.
🔸 Trailing Stop: Move stop loss to breakeven once price reaches TP1.
🚨 Disclaimer: This is not financial advice. Always manage risk and trade responsibly! 🚨
A Bearish Harmonic Pattern (likely a Gartley or Butterfly) has formed on the XAU/USD 4-hour timeframe. This pattern indicates a potential trend reversal at the D point, aligning with a key resistance zone.
Key Levels:
🔹 Entry (Sell Zone): Around $2,879 - $2,880
🔹 Stop Loss: Above $2,885 (to avoid stop hunts)
🔹 Take Profit Targets:
TP1: $2,800 (First major support)
TP2: $2,740 (Extended move)
TP3: $2,726 (Final support level)
Technical Confluences:
✅ The pattern has completed at D, which aligns with a strong historical resistance level.
✅ Fibonacci ratios confirm harmonic structure, with XA, AB, BC, and CD waves respecting key retracement and extension levels.
✅ Bearish divergence on RSI/MACD (if applicable), suggesting weakening momentum.
✅ Price action near D shows potential rejection wicks, hinting at selling pressure.
Trade Execution Strategy:
🔸 Entry Method: Wait for a rejection candle or bearish confirmation (e.g., engulfing or pin bar).
🔸 Risk-Reward Ratio: Approx. 1:3, making this a high-probability setup.
🔸 Trailing Stop: Move stop loss to breakeven once price reaches TP1.
🚨 Disclaimer: This is not financial advice. Always manage risk and trade responsibly! 🚨
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