Position: Short
Entry Range: 1907.71 - 1906.00
Take Profit (TP): 1896.96
Stop Loss (SL): 1908.40
Analysis:
Given the recent price action and technical indicators on the 1-hour timeframe, a potential shorting opportunity for XAU/USD has been identified. The pair seems to be exhibiting signs of a minor pullback, providing a short trading opportunity.
Adding that the macro trend for gold remains bearish in the longer term, it's additional signal for SHORT. The chosen entry range has been selected based on recent resistance and potential trend reversal points.
Always keep an eye on broader market news and potential geopolitical events that can influence gold prices.
Ensure proper risk management and never risk more than a predetermined percentage of your portfolio on any single trade.
Happy Trading!
Trade chiuso: obiettivo raggiunto:
TP reached