Sell XAUUSD Trendline Breakout

The XAU/USD pair (spot gold) on the M30 timeframe presents a potential selling opportunity due to a recent downward break of a well-established trendline. This suggests a shift in momentum towards the downside and a higher likelihood of further declines in the coming minutes or hours.

Key Points:

Sell Entry: Consider entering a short position around the current price of 2180.00, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.

Target Levels: Initial bearish targets lie at the following levels: 2157 and 2146

Stop-Loss: To manage risk, place a stop-loss order above the broken trendline, ideally around 2190.00. This helps limit potential losses if the price rallies unexpectedly and breaks back above the trendline, invalidating the short trade.

Thank you

Trade active:

Stronger US Dollar: A strengthening US Dollar (USD) can make gold, often seen as an inverse asset, less attractive. Recent economic data or Federal Reserve policy signals could influence the USD.

Comment:

Trade closed: target reached