Analysis:
Gold (XAUUSD) is currently trading near $3,019, showing signs of a potential downside move. Based on technical analysis, a short trade setup is identified with a stop loss at $3,040.3 and multiple take-profit levels.
Entry Zone: Around $3,019
Stop Loss: $3,040.3 (Above resistance)
Take Profit 1 (TP1): $3,006.0
Take Profit 2 (TP2): $2,992.5
Take Profit 3 (TP3): $2,976.9
The price structure suggests a potential rejection from the resistance zone, indicating a possible bearish move towards lower support levels. Traders should monitor price action closely and apply proper risk management.
#Trading #XAUUSD #Gold #Forex #TechnicalAnalysis #ShortTrade
Gold (XAUUSD) is currently trading near $3,019, showing signs of a potential downside move. Based on technical analysis, a short trade setup is identified with a stop loss at $3,040.3 and multiple take-profit levels.
Entry Zone: Around $3,019
Stop Loss: $3,040.3 (Above resistance)
Take Profit 1 (TP1): $3,006.0
Take Profit 2 (TP2): $2,992.5
Take Profit 3 (TP3): $2,976.9
The price structure suggests a potential rejection from the resistance zone, indicating a possible bearish move towards lower support levels. Traders should monitor price action closely and apply proper risk management.
#Trading #XAUUSD #Gold #Forex #TechnicalAnalysis #ShortTrade
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Unlock Market Insights! 🚀
Join our Telegram for expert analysis, free trading signals & real-time updates. Stay ahead in the game.👇
t.me/OliviaGrace_0
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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.