XAU/USD GOLD TREND NEAR BREAK OUT....It looks like My analyzing a potential short trade setup for gold. Here’s a quick breakdown:
Entry: Sell at 3043
Stop Loss: 3050 (70-point risk)
Targets:
3033 (first target, +100 points)
3022 (second target, +210 points)
3006 (final target, +370 points)
Key Considerations:
Breakout Confirmation: If gold is near the trendline, watch for a strong break below it to confirm bearish momentum.
Support & Resistance: Check if 3033 or 3022 have strong historical support levels.
Volume & Momentum: Look for increased selling pressure before entering.
Risk-Reward Ratio: First target offers ~1.4:1 ratio, better at lower targets.