Gold (XAUUSD) Analysis – Short Trade Setup**
Market Structure
The price is in a corrective phase after a strong impulsive move. The setup aligns with a potential continuation of the bearish trend.
Key Levels:
Entry Zone \(2,748.226\) (Marked in the yellow resistance zone).
Stop Loss Above \(2,753.130\) (Red zone).
Take Profit: Target level around \(2,721.107\) (Green zone).
Analysis Details
The price has broken down from the resistance zone, retesting the zone and showing signs of rejection.
A double-top structure is observed near \(2,753\), validating the bearish momentum.
The retracement into the supply zone offers an optimal entry point, with targets aligning with previous support zones.
Risk-Reward Ratio
The setup provides a favorable risk-to-reward ratio, ensuring risk is capped with the stop-loss level well-protected above the resistance.
Trade Plan Enter short trades at \(2,748.226\).
Stop Loss: \(2,753.130\).
Target: \(2,721.107\).