Short $XAU strong reversal according to the overall market trend

Entry: 5,020 - 5,035

• TP1: 5,000 - 5,005 (~0.8-1% profit, orange demand zone, may slightly bounce around 5,000 psychological).

• TP2: 4,975 - 4,980 (average target, lower blue zone, potential fair value gap, match the highlight cyan ~4,975.8).

• TP3: 4,930 - 4,950 (deep target, large blue support area below the chart, near 4,931 red highlight, if strong momentum dumps according to risk-off).

Good R:R if targeting TP2-TP3 (about 1:3 to 1:5+ depending on SL), especially gold is currently overbought after a large rally, may correct strongly.

Stop Loss (SL)

• SL: 5,048 - 5,050 (above the orange/red zone / nearest high or old EQH/CHOCH, about 0.5-0.6% risk).

XAU
XAUUSDT
4,879
-2.20%