11/07/2024 - XAUUSD - Short on Confluence
Updated
As of July 11th, 2024, XAU/USD (Gold) shows a confluence of a trendline and the Potential Reversal Zone (PRZ), along with divergence on higher time frames, indicating a potential downward movement. Here’s the trade plan:
Trade Details:
Entry: 2418
Stop Loss: 2434
Take Profit 1: 2402
Take Profit 2: 2384
Reason for Trade:
The confluence of the trendline and PRZ, along with divergence on higher time frames, suggests a potential downward movement. These factors support entering a short trade to capitalize on the anticipated decline.
Traders should monitor the price action closely and adjust their positions accordingly to optimize potential profits and manage risks effectively.
Trade active
Trade closed: target reached
TP 1 Hit.BE for TP 2 And Trend Riding.
Trade closed: target reached
Tp 2 closed on BE
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.