Gold (XAUUSD) Short Idea
Gold has been in a downtrend since reaching a high of 2042. It is now trading below a descending trend line that connects the lower highs. The price is also in a channel between 2024 and 2015, which acts as a dynamic resistance and support.
Recently, gold formed a bearish flag pattern, which is a continuation signal for the downtrend. The flag pole measures about 30 points, which gives us a target of 1995 for the breakdown. The flag is also near the upper boundary of the channel and the trend line, which adds to the bearish pressure.
Therefore, I suggest taking a short position on gold, with a stop loss above the flag and the trend line, and a take profit at 1995. This trade offers a risk-reward ratio of about 1:5.
**Entry:** 2023
**Stop loss:** 2028
**Take profit:** 1995
**Risk-reward ratio:** 1:5
Recently, gold formed a bearish flag pattern, which is a continuation signal for the downtrend. The flag pole measures about 30 points, which gives us a target of 1995 for the breakdown. The flag is also near the upper boundary of the channel and the trend line, which adds to the bearish pressure.
Therefore, I suggest taking a short position on gold, with a stop loss above the flag and the trend line, and a take profit at 1995. This trade offers a risk-reward ratio of about 1:5.
**Entry:** 2023
**Stop loss:** 2028
**Take profit:** 1995
**Risk-reward ratio:** 1:5
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.