The chart you've shared is a 15-minute chart for Gold Spot (XAU/USD), and it appears to represent a short trade setup. Here's a breakdown of the trading strategy illustrated:
Chart Analysis:
Entry Point:
$3,330.000 – This is where the trade is triggered, likely based on a breakdown or bearish signal.
Stop Loss Point:
$3,345.000 – This is the level to exit the trade if price moves against the position, limiting loss.
Target Point:
$3,300.000 – This is the take-profit level, where the trader expects the price to move in favor of the trade.
Trade Setup Summary:
Position Type: Short (Sell)
Risk per Trade: 3,345 - 3,330 = 15 points
Potential Reward: 3,330 - 3,300 = 30 points
Risk-to-Reward Ratio (RRR): 1:2 – A favorable ratio.
Technical Notes:
The chart includes:
Ichimoku Cloud indicating potential trend and support/resistance zones.
Recent price rejection and downward pressure near the entry level.
A previously broken support (now resistance) around 3,330.
Arrow projections showing expected downward movement.
If you’re considering trading based on this setup, ensure you factor in broader market conditions, news catalysts, and risk management protocols. Want help analyzing the reliability of this pattern or adding automation/alerts?
Chart Analysis:
Entry Point:
$3,330.000 – This is where the trade is triggered, likely based on a breakdown or bearish signal.
Stop Loss Point:
$3,345.000 – This is the level to exit the trade if price moves against the position, limiting loss.
Target Point:
$3,300.000 – This is the take-profit level, where the trader expects the price to move in favor of the trade.
Trade Setup Summary:
Position Type: Short (Sell)
Risk per Trade: 3,345 - 3,330 = 15 points
Potential Reward: 3,330 - 3,300 = 30 points
Risk-to-Reward Ratio (RRR): 1:2 – A favorable ratio.
Technical Notes:
The chart includes:
Ichimoku Cloud indicating potential trend and support/resistance zones.
Recent price rejection and downward pressure near the entry level.
A previously broken support (now resistance) around 3,330.
Arrow projections showing expected downward movement.
If you’re considering trading based on this setup, ensure you factor in broader market conditions, news catalysts, and risk management protocols. Want help analyzing the reliability of this pattern or adding automation/alerts?
Trade active
180 pips done trade activeTrade closed: target reached
target 400 pips hit
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.
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.