Gold (XAU/USD) Short Setup - Rejection from Key Resistance

154
I'm taking a short trade on Gold (XAU/USD) after price rejected a strong resistance zone around $2,922.74. This level has previously acted as support, but now it's serving as resistance after a break and retest. The rejection confirms bearish momentum, making it an ideal short entry.

Trade Details:
Entry: $2,922.74 (Resistance Rejection)
Stop-Loss: $2,929.45 (+6.71 points, 0.23%)
Take-Profit: $2,896.35 (Risk/Reward Ratio: 4.13)
Logic:
Previous support flipped into resistance
Strong rejection wicks at resistance level
Bearish momentum with lower highs forming
Favorable risk/reward ratio (4.13)
Looking for a continuation down toward the $2,896.35 level. Let me know your thoughts on this setup! 📉🔥 #XAUUSD #Gold #Trading #ShortSetup

إخلاء المسؤولية

لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.