Chart Insights
Timeframe: 30-minute chart
Current Price: $3,052.005
High: $3,052.060
Low: $3,039.910
Volume: 8.98K ticks
Trade Setup
Entry Criteria: A bearish candle formation on the 15-minute chart is required for entry.
Direction: Short (Sell) trade setup
Stop-Loss (SL): Around $3,053.421 (above resistance zone)
Take Profit (TP) Targets:
Target 1: ~$3,040 (previous support level)
Target 2: ~$3,026.486 (next major support)
Key Technical Factors
Strong Resistance Zone (~$3,048 - $3,053):
Price had a strong bullish rally but hit resistance.
A potential reversal zone if sellers gain control.
Bearish Confirmation Needed:
Waiting for a bearish candlestick (like a rejection wick, engulfing, or shooting star) on the 15-min chart for confirmation.
Volume Spike:
High buying pressure is observed, but if it weakens, a reversal could happen.
Conclusion:
If a bearish pattern forms, shorting gold with Targets at $3,040 and $3,026 is a viable plan.
If price breaks above $3,053 with strength, the bearish setup becomes invalid.
Would you like me to add further risk management details?
Timeframe: 30-minute chart
Current Price: $3,052.005
High: $3,052.060
Low: $3,039.910
Volume: 8.98K ticks
Trade Setup
Entry Criteria: A bearish candle formation on the 15-minute chart is required for entry.
Direction: Short (Sell) trade setup
Stop-Loss (SL): Around $3,053.421 (above resistance zone)
Take Profit (TP) Targets:
Target 1: ~$3,040 (previous support level)
Target 2: ~$3,026.486 (next major support)
Key Technical Factors
Strong Resistance Zone (~$3,048 - $3,053):
Price had a strong bullish rally but hit resistance.
A potential reversal zone if sellers gain control.
Bearish Confirmation Needed:
Waiting for a bearish candlestick (like a rejection wick, engulfing, or shooting star) on the 15-min chart for confirmation.
Volume Spike:
High buying pressure is observed, but if it weakens, a reversal could happen.
Conclusion:
If a bearish pattern forms, shorting gold with Targets at $3,040 and $3,026 is a viable plan.
If price breaks above $3,053 with strength, the bearish setup becomes invalid.
Would you like me to add further risk management details?
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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.
Related publications
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.