Gold (XAUUSD) Short Setup – Potential Reversal Ahead

Analysis:
Gold (XAUUSD) is currently trading near $3,019, showing signs of a potential downside move. Based on technical analysis, a short trade setup is identified with a stop loss at $3,040.3 and multiple take-profit levels.

Entry Zone: Around $3,019

Stop Loss: $3,040.3 (Above resistance)

Take Profit 1 (TP1): $3,006.0

Take Profit 2 (TP2): $2,992.5

Take Profit 3 (TP3): $2,976.9


The price structure suggests a potential rejection from the resistance zone, indicating a possible bearish move towards lower support levels. Traders should monitor price action closely and apply proper risk management.

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