Gold (XAU/USD) Short Setup - Rejection from Key Resistance
I'm taking a short trade on Gold (XAU/USD) after price rejected a strong resistance zone around $2,922.74. This level has previously acted as support, but now it's serving as resistance after a break and retest. The rejection confirms bearish momentum, making it an ideal short entry.
Trade Details:
Entry: $2,922.74 (Resistance Rejection)
Stop-Loss: $2,929.45 (+6.71 points, 0.23%)
Take-Profit: $2,896.35 (Risk/Reward Ratio: 4.13)
Logic:
Previous support flipped into resistance
Strong rejection wicks at resistance level
Bearish momentum with lower highs forming
Favorable risk/reward ratio (4.13)
Looking for a continuation down toward the $2,896.35 level. Let me know your thoughts on this setup! 📉🔥 #XAUUSD #Gold #Trading #ShortSetup
Trade Details:
Entry: $2,922.74 (Resistance Rejection)
Stop-Loss: $2,929.45 (+6.71 points, 0.23%)
Take-Profit: $2,896.35 (Risk/Reward Ratio: 4.13)
Logic:
Previous support flipped into resistance
Strong rejection wicks at resistance level
Bearish momentum with lower highs forming
Favorable risk/reward ratio (4.13)
Looking for a continuation down toward the $2,896.35 level. Let me know your thoughts on this setup! 📉🔥 #XAUUSD #Gold #Trading #ShortSetup
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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.