🚨 XAU/USD Selling Strategy - 15M Chart Analysis 🚨
Hey traders, we’re seeing some movement on the XAU/USD pair on the 15-minute frame. Let’s break down the key points:
✅ Entry: We’re targeting an entry for a short position around the $2430.14 resistance level, marked by recent rejections and the alignment with the 21 EMA (yellow line). Watch for bearish price action signals around this area as confirmation.
❌ SL (Stop Loss): To safeguard the trade, place the stop loss just above the $2436.73 mark, where we see the higher 4-hour resistance line. This gives us room to avoid small whipsaws.
🎯 TP (Take Profit): Our first target is at the $2416.62 level, where previous support has been tested. If momentum persists, extend the target to the next significant 4-hour support at $2407.00.
The current setup shows XAU/USD making lower highs while pressing down on a support zone, suggesting a potential drop if the support fails. Keep an eye on these levels and ensure your risk management is dialed in! Stay cool, trade smart! 📉👍
✅ Entry: We’re targeting an entry for a short position around the $2430.14 resistance level, marked by recent rejections and the alignment with the 21 EMA (yellow line). Watch for bearish price action signals around this area as confirmation.
❌ SL (Stop Loss): To safeguard the trade, place the stop loss just above the $2436.73 mark, where we see the higher 4-hour resistance line. This gives us room to avoid small whipsaws.
🎯 TP (Take Profit): Our first target is at the $2416.62 level, where previous support has been tested. If momentum persists, extend the target to the next significant 4-hour support at $2407.00.
The current setup shows XAU/USD making lower highs while pressing down on a support zone, suggesting a potential drop if the support fails. Keep an eye on these levels and ensure your risk management is dialed in! Stay cool, trade smart! 📉👍
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