Trade Idea : XAUUSD Short ( MARKET)
Analysis Summary:
• Daily Chart: Strong uptrend but overbought (RSI 76.73). Potential for a pullback.
• 15-Min Chart: Price has lost momentum, MACD is flattening.
• 3-Min Chart: Recent price action shows rejection near $2919-$2920 with weakening bullish momentum.
Given the overbought daily RSI, loss of momentum on the lower timeframes, and potential profit-taking, a short trade is the highest-probability setup.
Trade Setup:
• Entry: $2915 (Near resistance & rejection area)
• Stop Loss (SL): $2923 (Above local highs for protection)
• Take Profit (TP): $2899 (2:1 Risk-Reward Ratio)
XAUUSD
• Daily Chart: Strong uptrend but overbought (RSI 76.73). Potential for a pullback.
• 15-Min Chart: Price has lost momentum, MACD is flattening.
• 3-Min Chart: Recent price action shows rejection near $2919-$2920 with weakening bullish momentum.
Given the overbought daily RSI, loss of momentum on the lower timeframes, and potential profit-taking, a short trade is the highest-probability setup.
Trade Setup:
• Entry: $2915 (Near resistance & rejection area)
• Stop Loss (SL): $2923 (Above local highs for protection)
• Take Profit (TP): $2899 (2:1 Risk-Reward Ratio)
XAUUSD 
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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.