XAUUSD - Bearish on 1-Hour Chart!

📉 XAUUSD - Bearish on 1-Hour Chart! 🐻


Trade Plan: SHORT 📉

💼 Entry: 1957.25 (Sell Limit Order)
🛡️ Stop Loss (SL): 1964.11
💼 Take Profit 1 (TP1): 1950.3900
💼 Take Profit 2 (TP2): 1943.5300

📉 Technical Analysis Overview:
- XAUUSD (GOLD) is currently exhibiting a bearish trend on the 1-hour chart, signaling potential downward movement.
- The bearish trend line provides additional confirmation of the negative sentiment in the market.
- The Momentum indicator (RSI) is not showing any signs of divergence, indicating that the bearish momentum is likely to persist.

Trade Idea 💡
Based on the technical analysis, we propose a SHORT position on XAUUSD (GOLD) with a Sell Limit order at 1957.25. We recommend setting the Stop Loss at 1964.11 to manage risk in case the market moves against the trade. Our primary Take Profit level (TP1) is at 1950.3900, and for more significant profit potential, we have identified a secondary Take Profit level (TP2) at 1943.5300.

🚨 Disclaimer:
Trading the financial markets carries inherent risks, and past performance does not guarantee future results. Please conduct your own research and consider your risk tolerance before making any investment decisions.

Trade with care! 📉💹 #StayInformed #TradeResponsibly #GoodLuck #XAUUSD #GOLD #BearishTrend #TechnicalAnalysis #TradingOpportunity