GOLD Trading: trategy: Look to SELL at resistance zone,downtrend🎯 Trade Setup:
Entry Zone (Sell Limit): 3,353 – 3,357 USD
Stop Loss (SL): 3,375 USD
Take Profit (TP): 3,280 – 3,283 USD
Risk-Reward Ratio: Approximately 1:3 → suitable for 2–4 session swing trades.
📊 Technical Analysis:
1. Overall Trend:
GOLD is clearly in a downtrend, confirmed by:
A descending trendline connecting recent lower highs.
Price consistently forming lower highs and lower lows.
2. Indicator-Based Analysis:
🔹 SMA 89 (Purple Line):
Price is trading below the 89-period SMA, confirming bearish momentum.
SMA89 acts as a dynamic resistance, and the 3,353–3,357 zone aligns with this resistance level.
🔹 BB20 (Bollinger Bands):
The upper band sits near 3,383, close to the SL zone → validating 3,375 as a proper stop.
Price is currently bouncing from the lower BB, so a rejection from the mid-to-upper band is likely, supporting a SELL setup.
🔹 Volume Analysis:
Volume is decreasing during this recent rebound, indicating:
Weak bullish pressure, typical of a corrective move.
The rally lacks conviction → strengthens the bearish case.
