XAUUSD Big Move Will be there? | 2h Analysis
Market Overview
This week, XAU/USD is presenting a potential bearish scenario. After observing the current market conditions and price action, I’ve identified a key resistance level at 2641. This level is critical for our bearish outlook, and I’ll explain the setup in detail.
Key Levels
Entry Level: 2641
First Target: 2603
Second Target: 2580
Third Target: 2547
Stop Loss: 100 pips above the entry (approximately 2741)
Trading Strategy
Entry Confirmation:
Wait for a clear rejection (chock) at the 2641 level before entering the trade. This confirmation is crucial to ensure that the bearish momentum is established.
Target Management:
The first target is set at 2603, which is a realistic point to take partial profits.
The second target at 2580 provides a further profit-taking opportunity as we approach the anticipated bearish trend.
Finally, the third target is 2547, representing a solid point for potential further downside.
Stop Loss Consideration:
Place a stop loss 100 pips above the entry level, allowing for some volatility while protecting your capital. This positioning ensures that any unexpected bullish movement does not significantly impact your account.
Conclusion
In summary, the bearish outlook for XAU/USD appears favorable this week, with strategic entry and exit points. Remember to wait for that crucial rejection at 2641 before executing the trade. Let’s stay disciplined and focused, and I wish everyone a week full of profitable trades! 🌟
Feel free to follow for more insights and updates! Happy trading! 📈
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