$XAU Latest Market Update & Trade Plan🤫
📌 Trading Plan (Short Setup):
💥 Short Entry Zone: 4,506 - 4,528
💥 Stop Loss (SL): > 4,583
🎯 Take Profit Targets:
🎉 TP1: 4,380 - 4,406
🎉 TP2: 4,234 - 4,265
💥 Price is currently trading around 4,478 On the H1 chart, price is forming a corrective bounce following a breakdown from recent highs. The technical setup anticipates a brief relief push up into the overhead resistance block to sweep liquidity before resuming its broader downward continuation toward lower support targets
👉 After topping out near ~4,680, price underwent an aggressive sell off, breaching local supports down to the ~4,280 area before staging a sharp relief rally. The current recovery move is expected to hit a wall near overhead resistance, creating a high probability lower high structure for short sellers
👉 The key entry confluence zone lies between 4,506 and 4,528 Waiting for price to test and get rejected within this supply pocket provides an optimal risk to reward entry for a short position
👉 Key Invalidation (SL): A clean breakout and candle close above 4,583 invalidates this short thesis, signaling structural recovery and potential shift back to bullish momentum
Click here to view the chart 👇️👇👇
📌 Trading Plan (Short Setup):
💥 Short Entry Zone: 4,506 - 4,528
💥 Stop Loss (SL): > 4,583
🎯 Take Profit Targets:
🎉 TP1: 4,380 - 4,406
🎉 TP2: 4,234 - 4,265
💥 Price is currently trading around 4,478 On the H1 chart, price is forming a corrective bounce following a breakdown from recent highs. The technical setup anticipates a brief relief push up into the overhead resistance block to sweep liquidity before resuming its broader downward continuation toward lower support targets
👉 After topping out near ~4,680, price underwent an aggressive sell off, breaching local supports down to the ~4,280 area before staging a sharp relief rally. The current recovery move is expected to hit a wall near overhead resistance, creating a high probability lower high structure for short sellers
👉 The key entry confluence zone lies between 4,506 and 4,528 Waiting for price to test and get rejected within this supply pocket provides an optimal risk to reward entry for a short position
👉 Key Invalidation (SL): A clean breakout and candle close above 4,583 invalidates this short thesis, signaling structural recovery and potential shift back to bullish momentum
Click here to view the chart 👇️👇👇
