GOLD is Bearish for a while
hello guys.
Key Points:
- Entry Level for Selling: The suggested entry point for a short position is around $2,395, as indicated on the chart.
- Downtrend Channel: The price movement suggests a descending channel, and the recent price action supports this pattern.
- Support Level: There's a crucial support level at approximately $2,340, where the price might find some buying interest.
- Trendline: A longer-term trendline can be seen providing resistance, which the price has respected recently.
Trading Strategy:
- Short Position: Enter a short position around $2,395.
- Target: Aim for a target of around $2,340, where the next support level is situated.
- Stop-Loss: Place a stop-loss slightly above the recent high, around $2,420, to manage risk effectively.
Summary:
The chart suggests a bearish trend for Gold (XAUUSD) with a potential short-selling opportunity. Traders can look to enter short positions around $2,395, targeting the support level at $2,340, while maintaining a stop-loss at $2,420 to mitigate risk.
___________________________
✓✓✓ always do your research.
❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them.
❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
Key Points:
- Entry Level for Selling: The suggested entry point for a short position is around $2,395, as indicated on the chart.
- Downtrend Channel: The price movement suggests a descending channel, and the recent price action supports this pattern.
- Support Level: There's a crucial support level at approximately $2,340, where the price might find some buying interest.
- Trendline: A longer-term trendline can be seen providing resistance, which the price has respected recently.
Trading Strategy:
- Short Position: Enter a short position around $2,395.
- Target: Aim for a target of around $2,340, where the next support level is situated.
- Stop-Loss: Place a stop-loss slightly above the recent high, around $2,420, to manage risk effectively.
Summary:
The chart suggests a bearish trend for Gold (XAUUSD) with a potential short-selling opportunity. Traders can look to enter short positions around $2,395, targeting the support level at $2,340, while maintaining a stop-loss at $2,420 to mitigate risk.
___________________________
✓✓✓ always do your research.
❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them.
❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
Note
toward the target!
👉 my broker:: bit.ly/HYMCMELI
____
telegram channel: t.me/melikatrader94
forex telegram channel: t.me/melikatrader94GoldForex
____
telegram channel: t.me/melikatrader94
forex telegram channel: t.me/melikatrader94GoldForex
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.
👉 my broker:: bit.ly/HYMCMELI
____
telegram channel: t.me/melikatrader94
forex telegram channel: t.me/melikatrader94GoldForex
____
telegram channel: t.me/melikatrader94
forex telegram channel: t.me/melikatrader94GoldForex
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.