Current Market Conditions:
Timeframe: 15-minute chart
Price Action: Strong bearish momentum with a major breakdown below support.
Key Levels:
Previous Support: Around $3,020 - $3,025, now acting as resistance.
Current Price: $3,013.80 (as of screenshot).
Next Support Target: Around $3,000 - $2,995 (psychological level).
Your Trade Breakdown (Sell Position)
1️⃣ Entry Confirmation:
The break and retest of support zone confirm bearish strength.
Big red impulse candle shows strong momentum, meaning sellers are in control.
2️⃣ Stop-Loss (SL) Placement:
Above the broken support, ideally $3,018 - $3,020 (previous key level).
If price closes above $3,020, it could invalidate the sell setup.
3️⃣ Take-Profit (TP) Targets:
First TP: $3,005 (recent low and possible reaction area).
Second TP: $2,995 (psychological support, strong area for buyers).
Extended TP: $2,980 - $2,970 if gold continues to dump.
4️⃣ Risk Management:
Risk-to-Reward Ratio (RRR):
If SL at $3,018 and TP at $3,005, RRR = 1:2.
If TP at $2,995, RRR = 1:3+ (high probability).
Partial Profit Taking: Close 50% at $3,005 and trail stop-loss to breakeven.
How to Manage the Trade Now
✅ If Price Rejects $3,014 - $3,018 → Stay in the Sell Trade
🚨 If Price Closes Above $3,020 → Exit the Trade (Invalidation)
🛑 If Price Drops to $3,005 or Below → Lock Profits or Secure with SL
Final Thoughts
Gold is currently bearish, so this trade has good potential.
If momentum slows, watch for a bounce near $3,005 - $3,000.
If a strong bullish candle forms, consider exiting early.
Timeframe: 15-minute chart
Price Action: Strong bearish momentum with a major breakdown below support.
Key Levels:
Previous Support: Around $3,020 - $3,025, now acting as resistance.
Current Price: $3,013.80 (as of screenshot).
Next Support Target: Around $3,000 - $2,995 (psychological level).
Your Trade Breakdown (Sell Position)
1️⃣ Entry Confirmation:
The break and retest of support zone confirm bearish strength.
Big red impulse candle shows strong momentum, meaning sellers are in control.
2️⃣ Stop-Loss (SL) Placement:
Above the broken support, ideally $3,018 - $3,020 (previous key level).
If price closes above $3,020, it could invalidate the sell setup.
3️⃣ Take-Profit (TP) Targets:
First TP: $3,005 (recent low and possible reaction area).
Second TP: $2,995 (psychological support, strong area for buyers).
Extended TP: $2,980 - $2,970 if gold continues to dump.
4️⃣ Risk Management:
Risk-to-Reward Ratio (RRR):
If SL at $3,018 and TP at $3,005, RRR = 1:2.
If TP at $2,995, RRR = 1:3+ (high probability).
Partial Profit Taking: Close 50% at $3,005 and trail stop-loss to breakeven.
How to Manage the Trade Now
✅ If Price Rejects $3,014 - $3,018 → Stay in the Sell Trade
🚨 If Price Closes Above $3,020 → Exit the Trade (Invalidation)
🛑 If Price Drops to $3,005 or Below → Lock Profits or Secure with SL
Final Thoughts
Gold is currently bearish, so this trade has good potential.
If momentum slows, watch for a bounce near $3,005 - $3,000.
If a strong bullish candle forms, consider exiting early.
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.
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.