Short Trading Opportunity in Gold – Targeting 2045-2044
Updated
📈 Short Idea for Gold (XAU/USD)
Attention Traders! We've spotted an intriguing opportunity in the gold market on the 15-minute (M15) timeframe that's worth a look.
Key Observations:
1. Trendline Breakout: Gold has recently broken a significant trendline on the M15 chart, indicating a potential shift in the short-term trend.
2. New Low Formation: Post-breakout, gold formed a new low, reinforcing the bearish sentiment.
Strategy:
- Entry Point: We are eyeing a short position as soon as gold breaks below the minimum of the recent breakout. This move would offer further confirmation of the downtrend.
- Target Levels: Our bearish view sets the target at 2045-2044, a zone with potential for strong support.
- Risk-Reward Ratios: We are approaching this with a risk-reward ratio of 1:2 or 1:3, ensuring a disciplined and strategic trade.
Risk Management:
- A small stop loss is advised to protect against sudden reversals.
- Stay vigilant for market updates or news that could impact gold prices.
🔍 Conclusion:
This setup offers a compelling short opportunity in gold, but as always, remember that trading involves risks. Ensure you do your own analysis and manage your risk appropriately.
Happy Trading!
Note
we should close half position, when RR 1:1Trade closed: stop reached
actually we get stop, however we supposed to get profit even more than we expected if SL was higher than we put, now worries SL is a part of trading) we will cover from next trades
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