The chart you've provided shows a bearish flag pattern in the Gold Spot (XAU/USD) 15-minute timeframe. Here’s a breakdown of the trading setup shown:
Entry Line (Green): Around 3,235 USD — indicating a short/sell entry point once the price breaks below the flag.
Stop Loss Line (Red): Around 3,250 USD — placed above the flag’s upper boundary to limit losses.
Take Profit Line (Blue): Around 3,205 USD — suggesting a target price based on the measured move from the previous drop before the flag.
This is a classic bearish continuation setup, suggesting that after a consolidation in the rising flag channel, the price is likely to resume its prior downtrend.
Let me know if you'd like help with risk-reward calculations, trade management, or identifying similar patterns.
Entry Line (Green): Around 3,235 USD — indicating a short/sell entry point once the price breaks below the flag.
Stop Loss Line (Red): Around 3,250 USD — placed above the flag’s upper boundary to limit losses.
Take Profit Line (Blue): Around 3,205 USD — suggesting a target price based on the measured move from the previous drop before the flag.
This is a classic bearish continuation setup, suggesting that after a consolidation in the rising flag channel, the price is likely to resume its prior downtrend.
Let me know if you'd like help with risk-reward calculations, trade management, or identifying similar patterns.
Trade active
Trade ActiveTrade closed: target reached
Trade Active
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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.