This chart is a 15-minute timeframe of Gold (XAUUSD) showing a potential bullish setup. Here's a quick breakdown of the trade idea illustrated:
Entry Level: Around $3,360
Stop Loss: Just below $3,320
Take Profit: Near $3,410
The green zone indicates the target profit area, while the red zone highlights the risk zone (stop loss). The chart shows a clear inverse head and shoulders pattern, signaling a potential trend reversal and bullish move.
Let me know if you want help calculating the risk-reward ratio or backtesting this setup!
Entry Level: Around $3,360
Stop Loss: Just below $3,320
Take Profit: Near $3,410
The green zone indicates the target profit area, while the red zone highlights the risk zone (stop loss). The chart shows a clear inverse head and shoulders pattern, signaling a potential trend reversal and bullish move.
Let me know if you want help calculating the risk-reward ratio or backtesting this setup!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.