📉 Trade Idea: Sell XAU/USD
Entry Zone: 3290–3293
Stop Loss (SL): 3300 (tight risk cap above resistance)
Take Profit (TP): 3270 (next support level)
🔍 Explanation:
🟠 Trade Logic:
Expecting price to reject 3290–3293, possibly a minor resistance zone or lower high in a downtrend.
A break below 3290 signals weakness continuation, with sellers in control.
TP at 3270 targets the next meaningful support area, offering a decent reward.
Entry Zone: 3290–3293
Stop Loss (SL): 3300 (tight risk cap above resistance)
Take Profit (TP): 3270 (next support level)
🔍 Explanation:
🟠 Trade Logic:
Expecting price to reject 3290–3293, possibly a minor resistance zone or lower high in a downtrend.
A break below 3290 signals weakness continuation, with sellers in control.
TP at 3270 targets the next meaningful support area, offering a decent reward.
Trade active
✅ **Gold (XAU/USD) Update:****Target Hit – Price dropped to \$3,283**
This confirms the **bearish move from the 3290–3293 zone** worked well:
Entry Zone: 3290–3293
Target: 3270 (initial), price has already hit **\$3,283**
Current Status: Profitable move in progress
Next Steps:
Partial profits can be secured now at 3283
Hold runners if aiming for 3270 or below
Trail SL to breakeven (or 3288+) to lock in gains
Watch upcoming data: FOMC minutes, Fed speakers, or USD volatility
Chart Note:
If bearish momentum continues and 3280 breaks cleanly, **next support zones**:
Support 1: 3270
Support 2: 3255–3250 zone
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.
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.