(XAUUSD, 1H timeframe), here’s a sell setup breakdown with take profit (TP) targets:
🔻 Sell Setup:
Pattern: Bearish wedge breakdown + resistance from previous high.
Price Action: Price has failed to break the previous high and is forming lower highs.
Entry Zone: Around 3396-3403–3410 (current consolidation area).
🎯 Sell Targets:
1. TP1: 3355 – Minor support zone.
2. TP2: 3330 – Near psychological level & mid-support.
3. TP3: 3305 – Major support (matches your chart’s red support zone).
4. TP4 (Final): 3270–3255 – Deep target into the strong support zone.(Expected)
🛑 Stop Loss:
Above Previous High: Around 3445–3450
✅ Risk Management:
Risk-to-reward: Target at least 1:2
Monitor for price rejection at key TPs (especially TP1 and TP3)
🔻 Sell Setup:
Pattern: Bearish wedge breakdown + resistance from previous high.
Price Action: Price has failed to break the previous high and is forming lower highs.
Entry Zone: Around 3396-3403–3410 (current consolidation area).
🎯 Sell Targets:
1. TP1: 3355 – Minor support zone.
2. TP2: 3330 – Near psychological level & mid-support.
3. TP3: 3305 – Major support (matches your chart’s red support zone).
4. TP4 (Final): 3270–3255 – Deep target into the strong support zone.(Expected)
🛑 Stop Loss:
Above Previous High: Around 3445–3450
✅ Risk Management:
Risk-to-reward: Target at least 1:2
Monitor for price rejection at key TPs (especially TP1 and TP3)
Trade active
Target 1 successful 3355 done 👍++450 Pips runningTrade closed: stop reached
closed target around 800 pips 
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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.