It sounds like you're sharing your trade setup for XAUUSD (Gold) on the H4 timeframe. Based on your analysis, you're targeting a sell at the entry point of 3025, with a target point of 2878, support at 3000, and resistance at 3057.
Here’s a breakdown of your setup:
Key Levels:
Entry Point: 3025
Target Point: 2878
Support Level: 3000
Resistance Level: 3057
Market Outlook:
Sell Opportunity at 3025: Since you're aiming for a short position at 3025, this indicates that you're expecting the price to move down from this level. If the price gets rejected near your resistance (3057), it could confirm your short setup.
Support at 3000: If the price approaches 3000, this could act as a strong support zone. If the price fails to break below this level, your sell trade could be at risk.
Resistance at 3057: If the price rises toward 3057 and fails to break through, it could provide a solid area for entering a short trade.
Considerations for Your Trade:
Confirmation of Reversal: If you're looking to sell at 3025, make sure to look for confirmation signs like bearish candlestick patterns, RSI divergence, or a rejection at the resistance level (3057).
Risk Management: Consider setting a stop-loss slightly above 3057 to protect yourself in case of a breakout to the upside.
Bearish Momentum: On the H4 chart, if you're seeing a strong bearish trend (lower highs and lower lows), this would further support your decision to sell.
General Advice:
If you're confident in your setup, holding the position while respecting your support and resistance levels is key. However, always keep an eye on price action, and if the market conditions shift (e.g., if the price breaks through resistance), be ready to reassess your trade.
Would you like more specific insights or a review of any particular technical indicators that could support this analysis?
Here’s a breakdown of your setup:
Key Levels:
Entry Point: 3025
Target Point: 2878
Support Level: 3000
Resistance Level: 3057
Market Outlook:
Sell Opportunity at 3025: Since you're aiming for a short position at 3025, this indicates that you're expecting the price to move down from this level. If the price gets rejected near your resistance (3057), it could confirm your short setup.
Support at 3000: If the price approaches 3000, this could act as a strong support zone. If the price fails to break below this level, your sell trade could be at risk.
Resistance at 3057: If the price rises toward 3057 and fails to break through, it could provide a solid area for entering a short trade.
Considerations for Your Trade:
Confirmation of Reversal: If you're looking to sell at 3025, make sure to look for confirmation signs like bearish candlestick patterns, RSI divergence, or a rejection at the resistance level (3057).
Risk Management: Consider setting a stop-loss slightly above 3057 to protect yourself in case of a breakout to the upside.
Bearish Momentum: On the H4 chart, if you're seeing a strong bearish trend (lower highs and lower lows), this would further support your decision to sell.
General Advice:
If you're confident in your setup, holding the position while respecting your support and resistance levels is key. However, always keep an eye on price action, and if the market conditions shift (e.g., if the price breaks through resistance), be ready to reassess your trade.
Would you like more specific insights or a review of any particular technical indicators that could support this analysis?
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Disclaimer
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Join my Telegram Channel
t.me/+Q3EeU2skbfg3MDM0
t.me/+Q3EeU2skbfg3MDM0
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.