Trade Idea: XAUUSD SHORT (SELL STOP)
Technical Analysis:
1. Daily Chart:
• Strong uptrend with price near resistance at 2931.99.
• MACD is bullish but shows signs of slowing momentum.
• RSI is at 70.66, indicating overbought conditions and a potential pullback.
2. 15-Minute Chart:
• Recent strong upward move approaching resistance.
• MACD shows weakening momentum.
• RSI is nearing overbought territory, suggesting a short-term pullback.
3. 3-Minute Chart:
• Price rejected at 2934.20 and forming a minor downtrend.
• MACD is bearish, and RSI is recovering from oversold, indicating a possible continuation downward before any rebound.
Fundamental Analysis:
• Gold’s recent rally is likely fueled by safe-haven demand and macroeconomic factors, but current overbought technicals suggest a short-term pullback.
• Potential profit-taking at current levels could trigger a short-term retracement.
Trade Idea: Short Position
• Entry: 2931.00 (after confirmation of a rejection from resistance)
• Stop Loss (SL): 2936.00 (above recent high for protection)
• Take Profit (TP): 2921.00 (near previous support level)
• Risk-Reward Ratio: 2:1
XAUUSD
1. Daily Chart:
• Strong uptrend with price near resistance at 2931.99.
• MACD is bullish but shows signs of slowing momentum.
• RSI is at 70.66, indicating overbought conditions and a potential pullback.
2. 15-Minute Chart:
• Recent strong upward move approaching resistance.
• MACD shows weakening momentum.
• RSI is nearing overbought territory, suggesting a short-term pullback.
3. 3-Minute Chart:
• Price rejected at 2934.20 and forming a minor downtrend.
• MACD is bearish, and RSI is recovering from oversold, indicating a possible continuation downward before any rebound.
Fundamental Analysis:
• Gold’s recent rally is likely fueled by safe-haven demand and macroeconomic factors, but current overbought technicals suggest a short-term pullback.
• Potential profit-taking at current levels could trigger a short-term retracement.
Trade Idea: Short Position
• Entry: 2931.00 (after confirmation of a rejection from resistance)
• Stop Loss (SL): 2936.00 (above recent high for protection)
• Take Profit (TP): 2921.00 (near previous support level)
• Risk-Reward Ratio: 2:1
XAUUSD 
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.