#GOLD

Trade Setup Analysis (Gold - XAUUSD, 30M Chart)

1. Trend & Market Structure:

The price is in a strong uptrend but has hit a resistance zone (gray area).

The chart shows a lower high formation under a descending trendline, suggesting potential reversal or pullback.

Price is struggling to break above resistance (2,914-2,919).

2. Entry & Risk-Reward Setup:

Sell entry near 2,908-2,910, targeting a downward move.

Stop-loss (SL) placed above resistance (2,915-2,919).

Take-profit (TP) around 2,878-2,864 (support zone).

3. Confluences for Short Setup:

✅ Resistance Zone: Price got rejected from the supply area.

✅ Trendline Rejection: Price failing to break above descending trendline.

✅ 200 EMA Support Break: Price could break below the black EMA for further downside.

✅ Risk-Reward Ratio: Good R:R (~1:3) with limited risk.

4. Confirmation for Entry:

If price breaks 2,902 (recent low), it will confirm further downside.

If price closes above 2,915, the setup is invalid (possible breakout).

Final Thoughts:

This is a scalp or intraday trade based on a short-term pullback.

If price respects the resistance and trendline, this trade can be profitable.

If price breaks above 2,919, consider cutting the loss and switching to a long position.