📉 XAU/USD (Gold) Trade Setup – Descending Channel Strategy
#### **🔹 Summary:**
Gold is trading within a **descending channel**, indicating a bearish trend. The strategy is to **sell near resistance** and **target support levels** unless a breakout occurs.
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### **📌 Bearish Trade Setup (Sell Strategy)**
**🔻 Sell Entries:**
1️⃣ **3,020 - 3,030** (Upper boundary of the channel)
2️⃣ **3,015 - 3,018** (Rejection from the 21 EMA)
**🎯 Take Profit (TP) Targets:**
✅ **TP1:** 3,000 (Key support level)
✅ **TP2:** 2,980 (Next major support)
✅ **TP3:** 2,960 (Extended target if momentum continues)
**🚨 Stop Loss (SL):** **Above 3,035-3,040** (Breakout invalidates the setup)
**📊 Confirmation Signals:**
✔ EMA rejection (21 EMA acting as resistance)
✔ Volume increase near resistance
✔ Bearish candlestick patterns (Engulfing, Shooting Star)
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### **📈 Alternative Bullish Setup (If Breakout Occurs)**
If price **breaks above 3,040**, it may signal a reversal.
**🔹 Buy Entry:** **Above 3,040 (Confirmed breakout & retest)**
🎯 **Targets:** 3,095 , 3080
🚨 **SL:** Below 3,030
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### **✅ Conclusion:**
🔻 **Primary Plan:** Sell on rallies within the channel.
🔺 **Alternative Plan:** Buy only if price breaks 3,040 with strong volume.
📉 **Stick to risk management & confirmations!**
#### **🔹 Summary:**
Gold is trading within a **descending channel**, indicating a bearish trend. The strategy is to **sell near resistance** and **target support levels** unless a breakout occurs.
---
### **📌 Bearish Trade Setup (Sell Strategy)**
**🔻 Sell Entries:**
1️⃣ **3,020 - 3,030** (Upper boundary of the channel)
2️⃣ **3,015 - 3,018** (Rejection from the 21 EMA)
**🎯 Take Profit (TP) Targets:**
✅ **TP1:** 3,000 (Key support level)
✅ **TP2:** 2,980 (Next major support)
✅ **TP3:** 2,960 (Extended target if momentum continues)
**🚨 Stop Loss (SL):** **Above 3,035-3,040** (Breakout invalidates the setup)
**📊 Confirmation Signals:**
✔ EMA rejection (21 EMA acting as resistance)
✔ Volume increase near resistance
✔ Bearish candlestick patterns (Engulfing, Shooting Star)
---
### **📈 Alternative Bullish Setup (If Breakout Occurs)**
If price **breaks above 3,040**, it may signal a reversal.
**🔹 Buy Entry:** **Above 3,040 (Confirmed breakout & retest)**
🎯 **Targets:** 3,095 , 3080
🚨 **SL:** Below 3,030
---
### **✅ Conclusion:**
🔻 **Primary Plan:** Sell on rallies within the channel.
🔺 **Alternative Plan:** Buy only if price breaks 3,040 with strong volume.
📉 **Stick to risk management & confirmations!**
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.