🚨 XAU/USD Sell Strategy Alert - 4H Chart
Hey everyone, here’s the latest on the XAU/USD pair:
✅ Entry: The recent break below our 4-hour support level (white line) at approximately $2408 is signaling a potential downtrend initiation. Consider entering a short on any pullback to this level, which may now serve as resistance.
❌ Stop Loss: Set a stop loss just above the recent high or the 21 EMA (around $2410), to keep the risk controlled in case of a reversal back above the support-now-resistance level.
🎯 Target 1: Aim for an initial take profit near the next significant support at $2374. This area could provide a reasonable first target for partial profits or risk adjustment.
🎯 Target 2: If the bearish momentum continues, extend the profit target towards the lower support around $2330, following the trend's strength and market sentiment.
Keep an eye on the market's reaction at these key levels and adjust your trades accordingly. Stay tuned for further updates and trade safe! 📉
✅ Entry: The recent break below our 4-hour support level (white line) at approximately $2408 is signaling a potential downtrend initiation. Consider entering a short on any pullback to this level, which may now serve as resistance.
❌ Stop Loss: Set a stop loss just above the recent high or the 21 EMA (around $2410), to keep the risk controlled in case of a reversal back above the support-now-resistance level.
🎯 Target 1: Aim for an initial take profit near the next significant support at $2374. This area could provide a reasonable first target for partial profits or risk adjustment.
🎯 Target 2: If the bearish momentum continues, extend the profit target towards the lower support around $2330, following the trend's strength and market sentiment.
Keep an eye on the market's reaction at these key levels and adjust your trades accordingly. Stay tuned for further updates and trade safe! 📉
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