Gold has confirmed a Double Top pattern on the 30-minute timeframe, indicating potential bearish continuation. Price has broken below neckline support, triggering a short position entry.
🔹 Technical Analysis:
🧭 Double Top Formation with neckline breakdown
🎯 Target zone near $3,166 aligned with measured move projection
🔐 Stop Loss placed above the recent highs near $3,238 for risk control
🔹 Fundamental Insight:
🏦 Strong USD and rising Treasury yields weigh on gold sentiment
📉 Hawkish Fed tone fuels bearish bias in precious metals
🌍 Weak physical demand and lower geopolitical risk reduce safe-haven appeal
📌 Trade Plan: Short below $3,216, targeting $3,170 with a stop loss above $3,238. Good R:R setup for intraday traders.
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Note: This is not financial advice. Please conduct your own research and manage risk accordingly.
🔹 Technical Analysis:
🧭 Double Top Formation with neckline breakdown
🎯 Target zone near $3,166 aligned with measured move projection
🔐 Stop Loss placed above the recent highs near $3,238 for risk control
🔹 Fundamental Insight:
🏦 Strong USD and rising Treasury yields weigh on gold sentiment
📉 Hawkish Fed tone fuels bearish bias in precious metals
🌍 Weak physical demand and lower geopolitical risk reduce safe-haven appeal
📌 Trade Plan: Short below $3,216, targeting $3,170 with a stop loss above $3,238. Good R:R setup for intraday traders.
Note : If you found this helpful, like and follow for more trade ideas!
Share My Idea With Your Firends Mention Your Feed back Comment Section
Note: This is not financial advice. Please conduct your own research and manage risk accordingly.
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For More Help
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Telegram @Gold_Trust_Deals
t.me/+rTQmlGBcbsk1YjI0
Our Channel
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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.