short xauusd with chatgpt
1. Trend Analysis
Multi-Timeframe Observations:
Short Timeframes (M5, M15): Bearish signals indicate short-term selling pressure.
Mid/High Timeframes (H1, H4): Bullish momentum is still active, suggesting the possibility of a pullback to resume upward trends.
Daily Timeframe: Bearish signals show the overall long-term trend may be turning downwards, requiring caution with long positions.
2. Key Levels Identification
Support Levels:
$2,685: Immediate minor support zone visible on the chart.
$2,680: Strong institutional demand zone aligning with previous swing lows.
Resistance Levels:
$2,700–$2,710: Strong rejection zone recently tested, with selling pressure evident.
3. Liquidity Zones and FU Candles
Liquidity:
A liquidity cluster exists below $2,685, likely targeting retail stop-loss orders.
FU Candles:
On lower timeframes, bearish FU candles near $2,700 signal potential exhaustion of buyers in this region.
Updated Entry, Stop-Loss (SL), and Take-Profit (TP) Strategy
Scenario: Given the short-term bearish signals, a short position is recommended until clear bullish confirmation appears.
Entry:
Short near $2,693, following rejection from the resistance zone.
Stop-Loss (SL):
Place SL at $2,702, slightly above recent swing highs and the upper resistance zone.
Take-Profit (TP):
First TP at $2,685, targeting minor support.
Second TP at $2,680, aligning with the institutional demand zone.
Risk-Reward Ratio:
1:2, with ~9 pips of risk (SL: $2,702) and ~18 pips of reward (TP1: $2,685).
Additional Considerations
Confirmation for Entry: Wait for bearish candlestick patterns (e.g., engulfing candles or a breakdown below $2,690) before entering.
Market Context: Monitor gold-related news or events that may influence price momentum
Multi-Timeframe Observations:
Short Timeframes (M5, M15): Bearish signals indicate short-term selling pressure.
Mid/High Timeframes (H1, H4): Bullish momentum is still active, suggesting the possibility of a pullback to resume upward trends.
Daily Timeframe: Bearish signals show the overall long-term trend may be turning downwards, requiring caution with long positions.
2. Key Levels Identification
Support Levels:
$2,685: Immediate minor support zone visible on the chart.
$2,680: Strong institutional demand zone aligning with previous swing lows.
Resistance Levels:
$2,700–$2,710: Strong rejection zone recently tested, with selling pressure evident.
3. Liquidity Zones and FU Candles
Liquidity:
A liquidity cluster exists below $2,685, likely targeting retail stop-loss orders.
FU Candles:
On lower timeframes, bearish FU candles near $2,700 signal potential exhaustion of buyers in this region.
Updated Entry, Stop-Loss (SL), and Take-Profit (TP) Strategy
Scenario: Given the short-term bearish signals, a short position is recommended until clear bullish confirmation appears.
Entry:
Short near $2,693, following rejection from the resistance zone.
Stop-Loss (SL):
Place SL at $2,702, slightly above recent swing highs and the upper resistance zone.
Take-Profit (TP):
First TP at $2,685, targeting minor support.
Second TP at $2,680, aligning with the institutional demand zone.
Risk-Reward Ratio:
1:2, with ~9 pips of risk (SL: $2,702) and ~18 pips of reward (TP1: $2,685).
Additional Considerations
Confirmation for Entry: Wait for bearish candlestick patterns (e.g., engulfing candles or a breakdown below $2,690) before entering.
Market Context: Monitor gold-related news or events that may influence price momentum
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.