My Best analysis Gold (XAU/USD) - Sell Setup
This is a 1-hour chart analysis for gold (XAU/USD), highlighting a potential sell trade setup based on key technical levels:
Entry Zone: Highlighted in the pink zone.
Stop Loss (SL): Positioned at 2645. above the recent resistance level to minimize risk.
Take Profit (TP) Levels:
TP1: 2620
TP2: 2610
Analysis:
The price is expected to respect the marked resistance zone and continue downward, targeting the specified TP levels. This setup aligns with the bearish market structure, offering a favorable risk-to-reward ratio.