Gold Double Top Breakdown | Short Setup Activated

20 May

Gold has confirmed a Double Top pattern on the 30-minute timeframe, indicating potential bearish continuation. Price has broken below neckline support, triggering a short position entry.

🔹 Technical Analysis:

🧭 Double Top Formation with neckline breakdown

🎯 Target zone near $3,166 aligned with measured move projection

🔐 Stop Loss placed above the recent highs near $3,238 for risk control

🔹 Fundamental Insight:

🏦 Strong USD and rising Treasury yields weigh on gold sentiment

📉 Hawkish Fed tone fuels bearish bias in precious metals

🌍 Weak physical demand and lower geopolitical risk reduce safe-haven appeal

📌 Trade Plan: Short below $3,216, targeting $3,170 with a stop loss above $3,238. Good R:R setup for intraday traders.

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Note: This is not financial advice. Please conduct your own research and manage risk accordingly.

20 May

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trade Active from 3216 in sell

20 May

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Sell From 3116 successfully Hit 100+Pips Achieved "