Short Setup
Technical View:
• Price is forming lower highs and lower lows after a clear rejection from the $3,328 area.
• Currently retesting the fair value gap (FVG), which has acted as resistance.
• Volume is weakening on green candles, showing buyers are losing strength.
• The breakdown from earlier has not been recovered, indicating sellers are in control.
Macro Factors Supporting a Short:
• Extension of US-China tariff pause reduces global risk, hurting gold demand.
• De-escalation in EU-US trade tensions adds to risk-on sentiment.
• Strong US economic data and reduced expectations of immediate Fed rate cuts are keeping pressure on gold.
• A stable or strong dollar is another headwind for gold prices.
Trade Plan:
• Sell Entry: $3,320–$3,322
• Stop Loss: Above $3,327
• Target 1: $3,308
• Target 2: $3,300
• Risk-Reward Ratio: Around 1:2.5
This setup remains valid as long as price stays below $3,327 and shows rejection near resistance.
Technical View:
• Price is forming lower highs and lower lows after a clear rejection from the $3,328 area.
• Currently retesting the fair value gap (FVG), which has acted as resistance.
• Volume is weakening on green candles, showing buyers are losing strength.
• The breakdown from earlier has not been recovered, indicating sellers are in control.
Macro Factors Supporting a Short:
• Extension of US-China tariff pause reduces global risk, hurting gold demand.
• De-escalation in EU-US trade tensions adds to risk-on sentiment.
• Strong US economic data and reduced expectations of immediate Fed rate cuts are keeping pressure on gold.
• A stable or strong dollar is another headwind for gold prices.
Trade Plan:
• Sell Entry: $3,320–$3,322
• Stop Loss: Above $3,327
• Target 1: $3,308
• Target 2: $3,300
• Risk-Reward Ratio: Around 1:2.5
This setup remains valid as long as price stays below $3,327 and shows rejection near resistance.
Trade closed: target reached
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.