The Gold'en Bear: Shorting XAU/USD at Key Resistancer.
Dear Tradingview family,
XAU USD
Trade Call Type: #SHORT.
Order Type: SELL LIMIT
XAU USD
SHORT ENTRIES
ENTRY 1: 1960.017
PROFIT LEVEL: 1944.252
STOP LEVEL: 1975.519
RRR- 1:1
Risk/ Trade: 0.75%
ENTRY 2: 1966.671
PROFIT LEVEL: 1944.252
STOP LEVEL: 1975.519
RRR- 1:2.61
Risk/ Trade: 0.50%
Anchor Time: 4 Hour
Trading Time Frame: 1 Hr.
Indicators: #Price_Action. #Chart_patterns, #Swing_Highs#RSI
Entry Rule: Long on retracement.
Technical Analysis Outlook for XAU/USD Trading Signal:
The trading signal suggests a short trade on XAU/USD (Gold against the US Dollar) using a sell limit order. The signal provides two potential entry points along with profit levels, stop levels, risk/reward ratios, and risk per trade percentages. The analysis is based on price action, chart patterns, swing highs, and the RSI indicator. The strategy is to go long on a retracement.
According to the analysis, the price of XAU/USD has experienced a bullish rally after a Falling Wedge Bullish Pattern and has broken the last retested LH (Lower High). However, caution is advised as the market is approaching daily and weekly resistance levels, which could potentially lead to a rejection.
The recommended approach is to wait for the bullish momentum to subside and for a retracement to occur. This suggests that the current market conditions may not be favorable for entering a long position. The analysis suggests that it is risky to confront the bullish trend and recommends waiting for a better entry opportunity.
The trading time frame mentioned is 1 hour, and the anchor time frame is 4 hours, indicating that these time frames are used to identify the trading setup and make decisions accordingly.
Please note that this analysis is based on the information provided in the trading signal. It's important to conduct your own analysis and consider other factors such as market trends, news events, and risk management before making any trading decisions.
XAU USD
Trade Call Type: #SHORT.
Order Type: SELL LIMIT
XAU USD
SHORT ENTRIES
ENTRY 1: 1960.017
PROFIT LEVEL: 1944.252
STOP LEVEL: 1975.519
RRR- 1:1
Risk/ Trade: 0.75%
ENTRY 2: 1966.671
PROFIT LEVEL: 1944.252
STOP LEVEL: 1975.519
RRR- 1:2.61
Risk/ Trade: 0.50%
Anchor Time: 4 Hour
Trading Time Frame: 1 Hr.
Indicators: #Price_Action. #Chart_patterns, #Swing_Highs#RSI
Entry Rule: Long on retracement.
Technical Analysis Outlook for XAU/USD Trading Signal:
The trading signal suggests a short trade on XAU/USD (Gold against the US Dollar) using a sell limit order. The signal provides two potential entry points along with profit levels, stop levels, risk/reward ratios, and risk per trade percentages. The analysis is based on price action, chart patterns, swing highs, and the RSI indicator. The strategy is to go long on a retracement.
According to the analysis, the price of XAU/USD has experienced a bullish rally after a Falling Wedge Bullish Pattern and has broken the last retested LH (Lower High). However, caution is advised as the market is approaching daily and weekly resistance levels, which could potentially lead to a rejection.
The recommended approach is to wait for the bullish momentum to subside and for a retracement to occur. This suggests that the current market conditions may not be favorable for entering a long position. The analysis suggests that it is risky to confront the bullish trend and recommends waiting for a better entry opportunity.
The trading time frame mentioned is 1 hour, and the anchor time frame is 4 hours, indicating that these time frames are used to identify the trading setup and make decisions accordingly.
Please note that this analysis is based on the information provided in the trading signal. It's important to conduct your own analysis and consider other factors such as market trends, news events, and risk management before making any trading decisions.