30-minute XAU/USD (Gold vs USD) chart
Market Structure:
The market is in an uptrend, with price forming higher highs and higher lows.
A recent spike led to a temporary top before a slight pullback.
Trade Setup:
There is a sell order placed near the recent high.
The stop-loss is positioned above the recent high (shaded gray box).
The take-profit is much lower, indicating a short position aiming for a downside move (shaded blue area).
Technical Indicators:
A 50-period EMA is present, likely serving as a dynamic support level.
The price is currently testing a resistance zone from where a possible rejection could happen.
Potential Trade Idea:
If price continues to reject the resistance zone, a short trade towards $3,014 - $3,001 might be in play.
If price breaks above the resistance, it could invalidate the trade and trigger the stop-loss.
The market is in an uptrend, with price forming higher highs and higher lows.
A recent spike led to a temporary top before a slight pullback.
Trade Setup:
There is a sell order placed near the recent high.
The stop-loss is positioned above the recent high (shaded gray box).
The take-profit is much lower, indicating a short position aiming for a downside move (shaded blue area).
Technical Indicators:
A 50-period EMA is present, likely serving as a dynamic support level.
The price is currently testing a resistance zone from where a possible rejection could happen.
Potential Trade Idea:
If price continues to reject the resistance zone, a short trade towards $3,014 - $3,001 might be in play.
If price breaks above the resistance, it could invalidate the trade and trigger the stop-loss.
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.
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.