Trade Idea: Short Position

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This chart represents a short trade setup for Gold (XAU/USD) on the 1-hour timeframe. Here’s a professional breakdown of the analysis:

Trade Idea: Short Position

Entry: Around 2,906-2,909 USD

Stop Loss: 2,928 USD (Red zone)

Take Profit: 2,869 USD (Blue zone)

Technical Analysis: The price appears to be rejecting resistance near 2,909 USD and could break below the support zone marked in brown, leading to further downside momentum.

Risk-Reward Ratio: Favorable, as the potential downside outweighs the stop-loss risk.

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