XAUUSD SELL NOW TARGET 2721
Gold (XAUUSD) Analysis – Short Trade Setup**
Market Structure
The price is in a corrective phase after a strong impulsive move. The setup aligns with a potential continuation of the bearish trend.
Key Levels:
Entry Zone \(2,748.226\) (Marked in the yellow resistance zone).
Stop Loss Above \(2,753.130\) (Red zone).
Take Profit: Target level around \(2,721.107\) (Green zone).
Analysis Details
The price has broken down from the resistance zone, retesting the zone and showing signs of rejection.
A double-top structure is observed near \(2,753\), validating the bearish momentum.
The retracement into the supply zone offers an optimal entry point, with targets aligning with previous support zones.
Risk-Reward Ratio
The setup provides a favorable risk-to-reward ratio, ensuring risk is capped with the stop-loss level well-protected above the resistance.
Trade Plan Enter short trades at \(2,748.226\).
Stop Loss: \(2,753.130\).
Target: \(2,721.107\).
Trade active
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Related publications
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.