XAUUSD Rising Wedge Breakdown – Sell Setup LoadingXAU/USD SpotFX:XAUUSDFrankAgboXAUUSD on the 15M timeframe is forming a **rising structure into resistance**, and this is typically a warning sign of potential bearish continuation. Price is currently reacting near a key zone while respecting an **ascending trendline**, but momentum is starting to slow — a classic setup before a breakdown. --- **Market Context:** * Short-term trend: Bullish correction * Overall structure: Weak / ranging * Price approaching resistance around **4589** This looks like a **distribution phase**, not strength. --- **Bearish Scenario (Primary Setup):** If price breaks below the ascending trendline: * Expect a sharp move down toward **4175 (major support)** * Possible continuation if momentum increases The red arrow highlights the expected move after breakdown. --- **Bullish Scenario (Invalidation):** If buyers push price above **4589 resistance**: * Structure shifts bullish * Next targets: **4650 → 4700** But currently, upside looks limited without strong momentum. --- **Trading Plan:** * Entry: Sell on trendline break or rejection from resistance * Stop Loss: Above **4589** * Target: **4300 → 4175** --- **What I’m Watching:** * Trendline break with strong bearish candles * Rejection wicks at resistance * Lower highs forming (early sign of weakness) --- **Key Levels:** * Resistance: **4589** * Support: **4175** --- This is a classic **rising wedge / bearish continuation setup**. The market is climbing slowly… but likely to fall fast. **Wait for confirmation — then execute.** — FrankFx