Gold Trade Setup – Watching the Breakout

10 juil.

Gold Trade Setup – Watching the Breakout

Gold is currently consolidating between $3,200 and $3,500, with price action now pressing against a descending resistance line that has triggered multiple rejections in the past. We’re approaching a key decision point.

I'm favoring the upside in this setup — the momentum and structure suggest a potential breakout — but I fully recognize the downside potential and want to be prepared for both scenarios. Tight risk controls are key here.

Here’s how I’m positioned:
• Long Entry: Around $3,333
- Stop Loss: $3,330
- Target: $3,363 (looking for this level to be reached by end of day)

• Short Entry: Around $3,336
- Stop Loss: $3,340
- Take Profit: $3,303

The structure could resolve sharply in either direction, so I’m staying nimble and reactive.

10 juil.

Transaction en cours

Both short and long entry targets hit.

10 juil.

Trade fermée: ordre d’arrêt atteint

Long stoploss hit. Short is still going.

10 juil.

Note

I won't be able to update the short trade anymore because I mistakenly updated this as the trade closed. Next time I'll try to make sure I do this correctly to show both trades.