Gold (XAUUSD) is showing bearish momentum after a recent lower high and a strong rejection from resistance. A short position setup is identified with a favorable risk-to-reward ratio.
🔹 Trade Setup Details:
Entry Price: 3378
Stop Loss: 3381 (3 points above entry to limit risk)
Take Profit: 3354 (targeting the demand zone/support area)
🔹 Technical Rationale:
Price has broken below the recent support level and formed a new lower high, indicating bearish continuation.
The red resistance zone above entry shows strong rejection, adding confluence for the short entry.
The green zone near 3354 marks previous demand and serves as the take-profit target.
🔹 Risk-Reward:
Risk: 3 points
Reward: 24 points
RR Ratio: 1:8 – High probability setup with excellent reward potential
🔹 Strategy Notes:
Consider trailing stop once price breaks below 3365 to lock in profits.
Monitor for potential bullish reaction near the green zone for future reversal setups.
📉 Trade with discipline, manage risk properly, and let the market do the rest!
🔹 Trade Setup Details:
Entry Price: 3378
Stop Loss: 3381 (3 points above entry to limit risk)
Take Profit: 3354 (targeting the demand zone/support area)
🔹 Technical Rationale:
Price has broken below the recent support level and formed a new lower high, indicating bearish continuation.
The red resistance zone above entry shows strong rejection, adding confluence for the short entry.
The green zone near 3354 marks previous demand and serves as the take-profit target.
🔹 Risk-Reward:
Risk: 3 points
Reward: 24 points
RR Ratio: 1:8 – High probability setup with excellent reward potential
🔹 Strategy Notes:
Consider trailing stop once price breaks below 3365 to lock in profits.
Monitor for potential bullish reaction near the green zone for future reversal setups.
📉 Trade with discipline, manage risk properly, and let the market do the rest!
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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.
Get Accurate Forex & Gold Signals Daily!
Join our trusted trading team with real-time insights and expert support.
Start your winning journey now
Join our trusted trading team with real-time insights and expert support.
Start your winning journey now
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.