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XAU/USD Short Trade Setup – Gold vs US Dollar

Sharing my active trade idea on XAU/USD based on current price action and technical levels.

Trade Details:

Direction: Sell (Short)

Entry: 3,292.707

Stop Loss: 3,327.400

Take Profit: 3,251.562

Current Price: 3,301.886

Risk-Reward Ratio: ~1:1.45

Timeframe: 5-Minute Chart

Analysis:
Gold faced strong resistance near 3,330 and dropped sharply. The price formed a lower low and is now consolidating below 3,303. I entered short just below the resistance zone, expecting continuation to the downside toward a strong support at 3,251.

Stop loss is above the recent swing high for protection, and take profit is aligned with previous demand levels.

Market Context:
This setup is influenced by upcoming U.S. economic events (visible on chart), which may bring volatility to gold prices. Caution advised during high-impact news.

Disclaimer: DYOR. This is not financial advice. Trade responsibly.

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