🎯 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.
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.
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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.
Related publications
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.