XAUUSD Descending Structure Signals More Downside To 4,650 (TP1) for FOREXCOM:XAUUSD by LegionQ8

TradingView idea: XAUUSD Descending Structure Signals More Downside To 4,650 (TP1) for FOREXCOM:XAUUSD by LegionQ8 TradingView symbol: XAUUSD Hello traders! Here’s my technical outlook based on the current XAUUSD (3H) chart structure. Gold previously moved inside a descending channel. After a breakout from this structure, price found a bottom and started a recovery phase. The market then formed an ascending structure, but recently shifted into a smaller descending channel, signaling short-term weakness. Currently, price is trading below the 4,900 resistance (seller zone) and moving toward the 4,650 support (buyer zone), while …