XAUUSD 1H Sell ProjectionXAUUSD 1H Sell ProjectionGold has recovered into the 4054–4057 resistance zone, where an Evening Star bearish reversal pattern has formed near the 0.236 Fibonacci level at 4056.30.
Trade Setup
Sell Zone: 4054.00–4057.60
Stop Loss: 4066.18
Take Profit 1: 4040.00
Take Profit 2: 4032.94
Reasons for the Sell Projection
Evening Star pattern indicates possible bearish reversal.
Price is rejecting the 4056–4058 neckline/resistance area.
Stochastic reached the overbought zone and is turning downward.
RSI is at 47.57, below the 50 level, confirming weak bullish momentum.
The overall 1-hour correction trend remains bearish.
Expected Movement
As long as gold remains below 4066.18, the price may initially fall toward 4040.00. A strong breakdown below 4040 could extend the decline toward 4032.94.
A sustained 1-hour candle close above 4066.18 would invalidate this sell projection.XAUUSD 1H Sell Projection
Short