XAUUSD — 8H Bearish Breakdown Continuation
Gold is showing a clear bearish shift on the 8H timeframe.
Price has been forming lower highs after rejecting the upper resistance area. The recent move has now pushed below the nearby support/demand zone around 4,230–4,240, suggesting that sellers are gaining control.
📉 Market Structure
Higher-timeframe resistance: 4,360 area
Recent lower-high structure: 4,280–4,320
Breakdown zone: 4,230–4,240
Current price: around 4,197
Major downside support: 4,055
🎯 Bearish Scenario
The preferred idea is sell continuation, but chasing the large bearish candle is risky.
A cleaner setup would be:
Entry: 4,230–4,240 on a bearish retest/rejection
SL: above 4,340
TP: 4,055
Direction: 🔴 SELL
The key confirmation is whether 4,230–4,240 turns into resistance after the breakdown.
⚠️ Invalidation
If price reclaims the broken structure and establishes itself back above 4,340–4,360, the bearish setup loses its strength.
🧠Technical Idea
Breakdown → Retest → Rejection → Continuation
The main level I'm watching is 4,230–4,240. No clean retest/rejection = no forced trade.
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source https://www.tradingview.com/chart/GOLD/a7grYY97-XAUUSD-8H-Bearish-Breakdown-Continuation/
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