XAU/USD: Rising Wedge Breakdown Setup

The chart depicts a clear rising wedge pattern, signaling a potential bearish reversal for Gold (XAU/USD).

Key Features:

1. Wedge Formation: The price is consolidating within converging trendlines, indicating weakening bullish momentum.


2. Resistance Zone: Sellers are active near $2,754 - $2,760, capping further upside movement.


3. Breakout Potential: A decisive break below the wedge's lower boundary near $2,710 would confirm the bearish setup.


4. Target: Based on the pattern height, the projected target is $2,640, aligning with strong support levels.


5. Invalidation: If the price breaks above the resistance zone at $2,760, the bearish outlook is invalidated.



Trading Strategy:

Sell Entry: Below $2,710 after confirmation of breakout.

Take-Profit: $2,640 (measured move target).

Stop-Loss: Above $2,760 to minimize risk.


Volume and price action will be key to validate this high-probability trade setup. Stay alert for confirmation signals!