Gold Trade Report Update
Date: August 15, 2024
Instrument: Gold (XAU/USD)
Timeframe: 30-Minute Chart
Trade Type: Short Position at 2459.301 pending order will be great
1. Market Overview:
Recent Performance: Gold has shown volatility recently, with a prior attempt at a bullish move that did not sustain.
Current Sentiment: The overall sentiment remains cautious, with traders awaiting a clearer direction. There is a potential for a short-term upward push before a reversal to sell.
2. Trade Setup:
Expected Scenario: Anticipating a short-term bullish push, likely to retest a resistance level before reversing into a short opportunity.
Resistance Level: Watching for resistance around [Insert Specific Level], which could be a prior swing high, Fibonacci level, or trendline.
Confirmation Signals:
Flag Structure forming
Channel or Trendline Break below support after the push up.
Bearish reversal candlestick pattern (e.g., engulfing, pin bar).
Divergence on momentum indicators (e.g., RSI, MACD).
Instrument: Gold (XAU/USD)
Timeframe: 30-Minute Chart
Trade Type: Short Position at 2459.301 pending order will be great
1. Market Overview:
Recent Performance: Gold has shown volatility recently, with a prior attempt at a bullish move that did not sustain.
Current Sentiment: The overall sentiment remains cautious, with traders awaiting a clearer direction. There is a potential for a short-term upward push before a reversal to sell.
2. Trade Setup:
Expected Scenario: Anticipating a short-term bullish push, likely to retest a resistance level before reversing into a short opportunity.
Resistance Level: Watching for resistance around [Insert Specific Level], which could be a prior swing high, Fibonacci level, or trendline.
Confirmation Signals:
Flag Structure forming
Channel or Trendline Break below support after the push up.
Bearish reversal candlestick pattern (e.g., engulfing, pin bar).
Divergence on momentum indicators (e.g., RSI, MACD).
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.