This chart shows a Gold Spot vs US Dollar (XAU/USD) trading setup on the 2-hour timeframe, with a clear bearish outlook. Here's a breakdown:
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🔍 Trade Analysis Summary:
Price Context:
Price recently rejected a resistance zone around $3,431.
The chart suggests an anticipated move down toward previous support.
Horizontal Levels:
Resistance (STOP LOSS): $3,431.425
Current Price: ~$3,390
Support/Take Profit Zone: $3,296.258 – $3,348.500 (previous demand area marked by the shaded box)
Notable Feature:
Orange circle highlights a previous liquidity grab/wick, indicating this zone has held as strong support in the past.
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📉 Trade Setup:
Direction: Short (Sell)
Entry Zone: ~$3,390 (current area)
Take Profit: ~$3,296
Stop Loss: ~$3,431
Risk/Reward Ratio: Favorable (approx. 1:2+ depending on entry point)
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✅ Bearish Factors:
Price rejected the resistance zone.
Strong prior support seen at the take profit zone.
Consolidation breakdown risk adds to bearish bias.
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⚠ Watch Out For:
If price breaks above $3,431 with strength, short idea is invalidated.
Consolidation or false breakdowns near mid-support zone (~$3,348) could delay the move.
Would you like me to compute the exact risk/reward ratio or suggest a trailing stop strategy for this setup?
---
🔍 Trade Analysis Summary:
Price Context:
Price recently rejected a resistance zone around $3,431.
The chart suggests an anticipated move down toward previous support.
Horizontal Levels:
Resistance (STOP LOSS): $3,431.425
Current Price: ~$3,390
Support/Take Profit Zone: $3,296.258 – $3,348.500 (previous demand area marked by the shaded box)
Notable Feature:
Orange circle highlights a previous liquidity grab/wick, indicating this zone has held as strong support in the past.
---
📉 Trade Setup:
Direction: Short (Sell)
Entry Zone: ~$3,390 (current area)
Take Profit: ~$3,296
Stop Loss: ~$3,431
Risk/Reward Ratio: Favorable (approx. 1:2+ depending on entry point)
---
✅ Bearish Factors:
Price rejected the resistance zone.
Strong prior support seen at the take profit zone.
Consolidation breakdown risk adds to bearish bias.
---
⚠ Watch Out For:
If price breaks above $3,431 with strength, short idea is invalidated.
Consolidation or false breakdowns near mid-support zone (~$3,348) could delay the move.
Would you like me to compute the exact risk/reward ratio or suggest a trailing stop strategy for this setup?
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.