XAUUSD - Bearish Rectangle Pattern - Updated - 30/04/2024
XAUUSD has maintained a robust bearish trajectory without any discernible divergence noted on the 1-hour timeframe. Notably, recent price action has exhibited the formation of a bearish rectangle pattern, reinforcing the prevailing downtrend.
A potential scenario could unfold if the price breaches the 2287.91 level, potentially extending the downward movement toward the projected target of 2221.31.
Trade Call: Short
Entry: 2287.91
SL: 2321.22
TP1: 2254.61
TP2: 2221.31
A potential scenario could unfold if the price breaches the 2287.91 level, potentially extending the downward movement toward the projected target of 2221.31.
Trade Call: Short
Entry: 2287.91
SL: 2321.22
TP1: 2254.61
TP2: 2221.31