Gold (XAU/USD) Short Position (4H Timeframe)
Key Trade Details:
Entry: 2,652.315 (Position entered just below resistance)
Stop Loss (SL): 2,656.445 (Placed above the recent high to protect the trade)
Take Profit (TP):
TP1: 2,640.100 (Set Stop Loss to Break Even once this target is hit)
TP2: 2,629.110 (Next support level where price may bounce)
TP3: 2,619.390 (Deeper target aligning with bearish momentum)
TP4: 2,609.050 (Final target for maximum potential gain)
The risk/reward on this setup looks favorable as long as price maintains respect of the trendline and resistance zones.
Entry: 2,652.315 (Position entered just below resistance)
Stop Loss (SL): 2,656.445 (Placed above the recent high to protect the trade)
Take Profit (TP):
TP1: 2,640.100 (Set Stop Loss to Break Even once this target is hit)
TP2: 2,629.110 (Next support level where price may bounce)
TP3: 2,619.390 (Deeper target aligning with bearish momentum)
TP4: 2,609.050 (Final target for maximum potential gain)
The risk/reward on this setup looks favorable as long as price maintains respect of the trendline and resistance zones.
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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.