This chart is a 15-minute candlestick chart for CFDs on Gold (US

Sure! Here's another idea for trading this Gold (XAU/USD) chart based on what we see — this time, a bearish scenario that challenges the current bullish setup. This provides a contrarian view or alternative strategy in case the bullish pattern fails.


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🟥 Alternative Idea: Bearish Rejection from Resistance

🔍 Rationale:

The price is currently testing the previous resistance zone around 3,433–3,435.

The upward movement might be a lower high in a downtrend.

There’s potential for a fakeout or bull trap, especially if volume does not support the breakout.



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🛠️ Setup: Short Trade

Entry: Around 3,433 – 3,435, if price shows rejection (like a bearish engulfing or pin bar)

Stop Loss: Above recent swing high ~3,445

Take Profit: Near 3,410 – 3,406 (previous demand area)



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⚖️ Risk-Reward:

Risk: ~10–12 points

Reward: ~25–30 points
✅ RR Ratio: ~2.5 to 1



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🧠 Confirmation to Look For:

Bearish candlestick reversal patterns (e.g., shooting star, bearish engulfing)

Decreasing volume on the last push up

Divergence on RSI or MACD (if available)



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📉 Possible Outcome:

If gold fails to break above the current level and falls below 3,420 support, it could lead to a deeper correction — especially if USD strengthens or risk sentiment turns negative.


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Would you like a visual sketch of this bearish setup on the same chart, or want me to simulate it with indicators like RSI, MACD, or Fibonacci retracement?