The chart you've shared is for Gold Spot vs. US Dollar (XAU/USD) on a 1-hour timeframe. It shows a potential short trade setup based on a double top pattern or resistance rejection.
Key Observations:
Entry Line: ~3,357.294
This is the potential resistance zone where price is expected to reject again.
Current Price: ~3,347.970
The price is just below the "Entry Line," suggesting a possible setup confirmation.
Target Zone: Between 3,345.710 and 3,325.024
This range is identified as the take-profit zone, likely based on previous support or range lows.
Pattern:
The chart outlines an M-shaped structure (possible double top), suggesting a bearish reversal from the resistance.
Wider Range:
Price is trading within a broad horizontal range between ~3,240 and ~3,400. The current setup is playing within this range.
---
Trade Idea Summary:
Trade Type: Short (Sell)
Entry: Near 3,357
Target: Down to 3,325
Risk: Rejection invalid if price closes significantly above 3,357
---
Additional Tips:
Watch for bearish confirmation candles near the entry line (e.g., shooting star, engulfing).
Ensure there's no high-impact news (NFP, FOMC) that could cause a breakout against the setup.
A tight stop-loss above 3,357 would improve risk management.
Would you like help building a trade plan or backtesting this setup?
Key Observations:
Entry Line: ~3,357.294
This is the potential resistance zone where price is expected to reject again.
Current Price: ~3,347.970
The price is just below the "Entry Line," suggesting a possible setup confirmation.
Target Zone: Between 3,345.710 and 3,325.024
This range is identified as the take-profit zone, likely based on previous support or range lows.
Pattern:
The chart outlines an M-shaped structure (possible double top), suggesting a bearish reversal from the resistance.
Wider Range:
Price is trading within a broad horizontal range between ~3,240 and ~3,400. The current setup is playing within this range.
---
Trade Idea Summary:
Trade Type: Short (Sell)
Entry: Near 3,357
Target: Down to 3,325
Risk: Rejection invalid if price closes significantly above 3,357
---
Additional Tips:
Watch for bearish confirmation candles near the entry line (e.g., shooting star, engulfing).
Ensure there's no high-impact news (NFP, FOMC) that could cause a breakout against the setup.
A tight stop-loss above 3,357 would improve risk management.
Would you like help building a trade plan or backtesting this setup?
Trade active
TARGET DONE
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Forex Gold & Crypto Signals with
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t.me/+16bIVCNBo0MzYzk0
Forex Gold & Crypto Signals with
detailed analysis & get consistent |
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Gold Signals with peoper TP & SL for
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t.me/+16bIVCNBo0MzYzk0
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.
Join telegram free...
t.me/+16bIVCNBo0MzYzk0
Forex Gold & Crypto Signals with
detailed analysis & get consistent |
result ...
Gold Signals with peoper TP & SL for
high profit ...
t.me/+16bIVCNBo0MzYzk0
t.me/+16bIVCNBo0MzYzk0
Forex Gold & Crypto Signals with
detailed analysis & get consistent |
result ...
Gold Signals with peoper TP & SL for
high profit ...
t.me/+16bIVCNBo0MzYzk0
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.