Gold Trade Setup – Watching the Breakout

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Gold Trade Setup – Watching the Breakout

Gold is currently consolidating between $3,200 and $3,500, with price action now pressing against a descending resistance line that has triggered multiple rejections in the past. We’re approaching a key decision point.

I'm favoring the upside in this setup — the momentum and structure suggest a potential breakout — but I fully recognize the downside potential and want to be prepared for both scenarios. Tight risk controls are key here.

Here’s how I’m positioned:
• Long Entry: Around $3,333
- Stop Loss: $3,330
- Target: $3,363 (looking for this level to be reached by end of day)

• Short Entry: Around $3,336
- Stop Loss: $3,340
- Take Profit: $3,303

The structure could resolve sharply in either direction, so I’m staying nimble and reactive.

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Trade attivo

Both short and long entry targets hit.

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Trade chiuso: stop raggiunto

Long stoploss hit. Short is still going.

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Nota

I won't be able to update the short trade anymore because I mistakenly updated this as the trade closed. Next time I'll try to make sure I do this correctly to show both trades.