Gold Spot (XAU/USD) Short Trade Setup - 1:10 RR
I'm am currently in a short position on Gold (XAU/USD) as the price shows signs of weakening after a steady uptrend.
Entry: 2627.79
Stop Loss (SL): 2635.6 (above recent highs and trendline)
Take Profits (TP):
TP 1: 2615.24 (Move SL to breakeven)
TP 2: 2615.305 (support level close to TP 1)
TP 3: 2586.490 (significant support zone)
TP 4: 2575.1 (deeper retracement level)
Full TP: 2546.86 (ultimate downside target, aligning with a previous major low)
The trade is based on the idea of a rejection near resistance and trendline breakout. I’m expecting a pullback towards the previous lows, supported by multiple levels of take profit to secure gains as the trade progresses.
Entry: 2627.79
Stop Loss (SL): 2635.6 (above recent highs and trendline)
Take Profits (TP):
TP 1: 2615.24 (Move SL to breakeven)
TP 2: 2615.305 (support level close to TP 1)
TP 3: 2586.490 (significant support zone)
TP 4: 2575.1 (deeper retracement level)
Full TP: 2546.86 (ultimate downside target, aligning with a previous major low)
The trade is based on the idea of a rejection near resistance and trendline breakout. I’m expecting a pullback towards the previous lows, supported by multiple levels of take profit to secure gains as the trade progresses.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.