Gold recently formed a symmetrical triangle pattern, signaling potential volatility. A confirmed downside breakout from the triangle suggests bearish continuation. The price broke below the ascending support line, signaling a short opportunity. Based on the height of the triangle and technical projection, the target zone is around $2,961, aligning with previous demand levels.
Short Setup:
Entry: ~$3,237
Stop Loss: ~$3,320
Target: ~$2,980
Risk/Reward Ratio: Favorable
Fundamentals Support Bearish Bias:
Hawkish Fed stance and potential rate hikes
Strong USD amid global uncertainty
Weak physical demand in recent weeks
setup is ideal for traders looking to capitalize on a bearish breakout following a period of consolidation. Monitor for volume confirmation and macroeconomic data that may influence gold prices.
Call to Action:
👉 Follow for alerts on breakout/breakdown scenarios.
👉 Share this analysis to empower others with data-driven decisions.
Engage with My Latest Trading Setup & Share Insights!
NOTE: This is not financial advice. Trade at your own risk.
Support: Like & follow for more trade ideas!
Short Setup:
Entry: ~$3,237
Stop Loss: ~$3,320
Target: ~$2,980
Risk/Reward Ratio: Favorable
Fundamentals Support Bearish Bias:
Hawkish Fed stance and potential rate hikes
Strong USD amid global uncertainty
Weak physical demand in recent weeks
setup is ideal for traders looking to capitalize on a bearish breakout following a period of consolidation. Monitor for volume confirmation and macroeconomic data that may influence gold prices.
Call to Action:
👉 Follow for alerts on breakout/breakdown scenarios.
👉 Share this analysis to empower others with data-driven decisions.
Engage with My Latest Trading Setup & Share Insights!
NOTE: This is not financial advice. Trade at your own risk.
Support: Like & follow for more trade ideas!
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.