Gold (XAU/USD) 1H Analysis – Potential Short Setup
Updated
the Gold (XAU/USD) 1H chart is showing a pullback towards the broken dynamic support, which could now act as resistance. This setup suggests that Gold may continue to decline from here.
Key Points:
Pullback to Broken Support:
Gold is currently testing the broken dynamic support, and this often leads to a downward move if the resistance holds.
Short Setup:
A short position could be considered with a stop-loss placed just above $2650, which is the key resistance level.
Conclusion:
This pullback could be the perfect setup for a short trade, but always manage your risk. If the price breaks above $2650, reconsider the trade.
Note: This analysis is based on technical patterns, always trade responsibly and with proper risk management.
Key Points:
Pullback to Broken Support:
Gold is currently testing the broken dynamic support, and this often leads to a downward move if the resistance holds.
Short Setup:
A short position could be considered with a stop-loss placed just above $2650, which is the key resistance level.
Conclusion:
This pullback could be the perfect setup for a short trade, but always manage your risk. If the price breaks above $2650, reconsider the trade.
Note: This analysis is based on technical patterns, always trade responsibly and with proper risk management.
Trade active
a takeout happened , we changed our stop loss to 2653 , lets bleed
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