XAUUSD - Bearish Rectangle Pattern - 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 2165.99.

Trade Call: Short
Entry: 2287.91
SL: 2348.87
TP1: 2226.95
TP2: 2165.99