Sure! Here's another idea for trading this Gold (XAU/USD) chart based on what we see — this time, a bearish scenario that challenges the current bullish setup. This provides a contrarian view or alternative strategy in case the bullish pattern fails.
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🟥 Alternative Idea: Bearish Rejection from Resistance
🔍 Rationale:
The price is currently testing the previous resistance zone around 3,433–3,435.
The upward movement might be a lower high in a downtrend.
There’s potential for a fakeout or bull trap, especially if volume does not support the breakout.
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🛠️ Setup: Short Trade
Entry: Around 3,433 – 3,435, if price shows rejection (like a bearish engulfing or pin bar)
Stop Loss: Above recent swing high ~3,445
Take Profit: Near 3,410 – 3,406 (previous demand area)
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⚖️ Risk-Reward:
Risk: ~10–12 points
Reward: ~25–30 points
✅ RR Ratio: ~2.5 to 1
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🧠 Confirmation to Look For:
Bearish candlestick reversal patterns (e.g., shooting star, bearish engulfing)
Decreasing volume on the last push up
Divergence on RSI or MACD (if available)
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📉 Possible Outcome:
If gold fails to break above the current level and falls below 3,420 support, it could lead to a deeper correction — especially if USD strengthens or risk sentiment turns negative.
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Would you like a visual sketch of this bearish setup on the same chart, or want me to simulate it with indicators like RSI, MACD, or Fibonacci retracement?
---
🟥 Alternative Idea: Bearish Rejection from Resistance
🔍 Rationale:
The price is currently testing the previous resistance zone around 3,433–3,435.
The upward movement might be a lower high in a downtrend.
There’s potential for a fakeout or bull trap, especially if volume does not support the breakout.
---
🛠️ Setup: Short Trade
Entry: Around 3,433 – 3,435, if price shows rejection (like a bearish engulfing or pin bar)
Stop Loss: Above recent swing high ~3,445
Take Profit: Near 3,410 – 3,406 (previous demand area)
---
⚖️ Risk-Reward:
Risk: ~10–12 points
Reward: ~25–30 points
✅ RR Ratio: ~2.5 to 1
---
🧠 Confirmation to Look For:
Bearish candlestick reversal patterns (e.g., shooting star, bearish engulfing)
Decreasing volume on the last push up
Divergence on RSI or MACD (if available)
---
📉 Possible Outcome:
If gold fails to break above the current level and falls below 3,420 support, it could lead to a deeper correction — especially if USD strengthens or risk sentiment turns negative.
---
Would you like a visual sketch of this bearish setup on the same chart, or want me to simulate it with indicators like RSI, MACD, or Fibonacci retracement?
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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.
signals pirovidar and analysis
👇👇👇👇👇👇👇👇
t.me/+hFs_76f2iZo3OGE0
t.me/+hFs_76f2iZo3OGE0
👇👇👇👇👇👇👇👇
t.me/+hFs_76f2iZo3OGE0
t.me/+hFs_76f2iZo3OGE0
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.