XAUUSD Short: Bounce Under Pressure - Is 4,250$ Next Target?

Jun 9

Hello traders! Here’s my technical outlook based on the current XAUUSD (3H) chart structure. XAUUSD previously traded inside an ascending channel and reached a major pivot point near the upper boundary. After losing bullish momentum, price broke below channel support and entered a descending channel.

Currently, XAUUSD is trading below the 4,410 supply zone while holding above the 4,250 demand zone. Following a strong bearish breakout from the descending channel, price found support near demand and is attempting a short-term recovery.

As long as XAUUSD remains below the 4,410 supply zone and continues to respect the bearish market structure, the bearish scenario remains valid. A rejection from current levels could push price back toward the 4,250 demand zone (TP1). Manage your risk!

Jun 11

Trade closed: target reached

As I expected, gold continued its movement inside the descending channel. And then the price broke through it and went even lower. SO our goals are completely achieved!