XAUUSD SELL (9 July 2024)

7月9日

This trade involves shorting Gold Spot (XAU/USD) on the 1-hour chart due to a bearish reversal pattern and a break below the ascending channel's lower trendline. The price has encountered strong resistance at the 2,380-2,390 USD zone and failed to break above it, suggesting a potential downside. The entry is at 2,373 - 2,374 USD with a stop loss at 2,381.97 USD and take profit levels at 2,310, 2,288, and 2,273 USD. This setup aims to capitalize on the anticipated decline while managing risk effectively.