XAU/USD | Potential Short Setup | Key Resistance Rejection
Gold is currently testing a critical resistance zone around 2,926–2,930, where selling pressure is expected to increase. A rejection from this level could lead to a bearish move.
Trade Plan:
Entry: Near resistance (~2,926)
Stop Loss: 2,955 (Above resistance)
Take Profit: 2,840 (Key support level)
Technical Outlook:
The price has been in an uptrend but is now facing a strong resistance zone.
A break below the trendline could trigger further downside momentum.
Risk-to-reward ratio is favorable, making this setup an attractive short opportunity.
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Gold is currently testing a critical resistance zone around 2,926–2,930, where selling pressure is expected to increase. A rejection from this level could lead to a bearish move.
Trade Plan:
Entry: Near resistance (~2,926)
Stop Loss: 2,955 (Above resistance)
Take Profit: 2,840 (Key support level)
Technical Outlook:
The price has been in an uptrend but is now facing a strong resistance zone.
A break below the trendline could trigger further downside momentum.
Risk-to-reward ratio is favorable, making this setup an attractive short opportunity.
If you found this analysis helpful, don’t forget to like, share, and follow for more insights!
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.