GOLD Analaysis/Trade plan for today.
Updated
This chart appears to show a bearish market setup in the gold (XAU/USD) pair with concepts from Smart Money Concepts (SMC). Here’s the descriptions based on the visual
The price is currently consolidating around the marked supply zone (gray area).
A rejection within this zone signals potential selling pressure.
Market Structure:
The trend indicates a break of structure (BOS) below previous lows, supporting bearish momentum.
Retracement back into the supply zone suggests a potential mitigation point.
Trade Idea:
A short position is anticipated, with the entry near the supply zone.
Stop Loss (SL) is marked above $2,645 to protect against invalidation of the bearish setup.
Take Profit (TP) is targeted near $2,600, aligning with key liquidity and support levels.
SMC Principles:
The setup uses concepts such as BOS, mitigation in a supply zone, and targeting liquidity at lower levels.
ALWAYS USE STOPLOSS AND TAKE PROFIT AS WELL AS RISK MANAGEMENT FOR YOUR TRADES.
ITS JUST MY ANALYSIS OR PREDICTION LET'S SEE WHAT WILL HAPPEN IF YOU LIKE MY IDEA SO SUPPORT ME AND BOOST TO APPRECIATES.
The price is currently consolidating around the marked supply zone (gray area).
A rejection within this zone signals potential selling pressure.
Market Structure:
The trend indicates a break of structure (BOS) below previous lows, supporting bearish momentum.
Retracement back into the supply zone suggests a potential mitigation point.
Trade Idea:
A short position is anticipated, with the entry near the supply zone.
Stop Loss (SL) is marked above $2,645 to protect against invalidation of the bearish setup.
Take Profit (TP) is targeted near $2,600, aligning with key liquidity and support levels.
SMC Principles:
The setup uses concepts such as BOS, mitigation in a supply zone, and targeting liquidity at lower levels.
ALWAYS USE STOPLOSS AND TAKE PROFIT AS WELL AS RISK MANAGEMENT FOR YOUR TRADES.
ITS JUST MY ANALYSIS OR PREDICTION LET'S SEE WHAT WILL HAPPEN IF YOU LIKE MY IDEA SO SUPPORT ME AND BOOST TO APPRECIATES.
Trade active
active trade.Trade closed: stop reached
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