Trade Idea: XAUUSD Short ( SELL LIMIT )
Technical Analysis:
1. Daily Chart:
• Trend: Uptrend but showing signs of exhaustion.
• MACD: Still bullish but momentum is weakening.
• RSI: 53.11, indicating neutral momentum, with a possible shift to downside pressure.
2. 15-Min Chart:
• Trend: Clear downtrend forming.
• MACD: Bearish momentum is strengthening.
• RSI: 42.74, nearing oversold but with room for further decline.
3. 3-Min Chart:
• Trend: Short-term consolidation after a sell-off.
• MACD: Slight bullish divergence but still negative.
• RSI: 44.71, meaning there is no immediate reversal signal yet.
Fundamental Analysis:
• US Dollar Strength: If there is upcoming economic data supporting a stronger USD (such as rising bond yields or hawkish Fed comments), gold could decline further.
• Recent Price Action: Gold has been in a long-term uptrend, but the recent pullback suggests a correction is in play.
Trade Setup:
• Entry: 2878
• Stop Loss (SL): 2892 (14 pips above entry)
• Take Profit (TP): 2850 (28 pips below entry)
• Risk-Reward Ratio (RRR): 2:1
XAUUSD
1. Daily Chart:
• Trend: Uptrend but showing signs of exhaustion.
• MACD: Still bullish but momentum is weakening.
• RSI: 53.11, indicating neutral momentum, with a possible shift to downside pressure.
2. 15-Min Chart:
• Trend: Clear downtrend forming.
• MACD: Bearish momentum is strengthening.
• RSI: 42.74, nearing oversold but with room for further decline.
3. 3-Min Chart:
• Trend: Short-term consolidation after a sell-off.
• MACD: Slight bullish divergence but still negative.
• RSI: 44.71, meaning there is no immediate reversal signal yet.
Fundamental Analysis:
• US Dollar Strength: If there is upcoming economic data supporting a stronger USD (such as rising bond yields or hawkish Fed comments), gold could decline further.
• Recent Price Action: Gold has been in a long-term uptrend, but the recent pullback suggests a correction is in play.
Trade Setup:
• Entry: 2878
• Stop Loss (SL): 2892 (14 pips above entry)
• Take Profit (TP): 2850 (28 pips below entry)
• Risk-Reward Ratio (RRR): 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.