XAUUSD Trading Plan – Key Levels, Market Structure & TradeSetup

Market Structure & Key Levels:
Major Resistance Zone (Short Setup)

Price is approaching a strong resistance level around $2,921 - $2,925 (marked in red).
This zone has acted as a 1M resistance, meaning a potential rejection could lead to a short opportunity.
The plan is to wait for bearish confirmation, such as a rejection wick, bearish engulfing candle, or strong volume decrease, before entering a sell trade.
Stop-loss (SL) should be placed above the resistance zone, with a take-profit (TP) around the next support levels.
Major Support Zone (Buy Setup)

A strong support area is identified around $2,894 - $2,897 (marked in green).
If price tests this area and forms a bullish confirmation candle (such as a bullish engulfing, pin bar, or hammer), it could signal a buy trade.
The logic behind this setup is that this support level has been previously respected, and buyers may step in again.
Stop-loss (SL) should be placed below the support zone, with a take-profit (TP) near the resistance levels.
Trading Plan & Risk Management:
✅ Short Entry: Near $2,921 - $2,925, upon bearish confirmation.

SL: Above resistance.
TP: Next support levels.
✅ Long Entry: Near $2,894 - $2,897, upon bullish confirmation.

SL: Below support.
TP: Resistance levels.
⚠ Risk Management:

Always use a risk-to-reward ratio of at least 1:2.
Avoid trading without confirmation signals.
Monitor volume and price action closely before entering trades.
📊 Conclusion:
Today's trading idea revolves around reacting to price action at key levels. If resistance holds, we look for short opportunities; if support holds, we look for buy setups. Patience and discipline are key to executing these trades successfully.