The current short setup on XAU/USD (Gold vs US Dollar) highlights a potential downside move from the entry zone of 3336–3340, targeting progressive profit levels down to 3313. This trade suggests that gold is encountering resistance in the specified entry area, likely due to previous price rejections, supply pressure, or alignment with a key Fibonacci retracement level or bearish trendline. The stop loss at 3352.00 is positioned above a key resistance zone, offering a buffer of approximately 12–16 points, which helps guard against short-term volatility or false breakouts before price possibly resumes its downward trajectory.
The risk-to-reward ratio on this setup is favorable, potentially offering 2:1 or better depending on entry execution. Moreover, the setup allows for flexibility; traders can trail the stop once TP1 is hit to reduce risk exposure and lock in profit. It's crucial to monitor price action closely at the entry zone—any bullish breakout above 3344–3348 with volume could invalidate the setup, while rejection candles or long upper wicks would confirm bearish strength.
The risk-to-reward ratio on this setup is favorable, potentially offering 2:1 or better depending on entry execution. Moreover, the setup allows for flexibility; traders can trail the stop once TP1 is hit to reduce risk exposure and lock in profit. It's crucial to monitor price action closely at the entry zone—any bullish breakout above 3344–3348 with volume could invalidate the setup, while rejection candles or long upper wicks would confirm bearish strength.
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