๐จ TRADING SIGNAL: XAUUSD (Gold) ๐จ
Direction: SELL / SHORT ๐ป
Current Price / Entry Zone: ~4170.00 (Current Level / Premium Zone)
Take Profit 1 (TP1): 4140.00
Take Profit 2 (TP2): 4100.00
Rationale & Technical Analysis:
- Buy-Side Liquidity (BSL) Sweep: Price pushed higher to take out previous highs, sweeping resting buy stops above the range before rejecting sharply.
- Bearish Engulfing Pattern: A strong bearish engulfing candle formed at the highs, signaling an immediate shift in momentum from buyers to sellers.
- Key Target 1 (4140 Zone): This area represents the immediate support / demand zone formed prior to the last bullish impulse.
- Key Target 2 (4100 Zone): A major support zone and key psychological level where price broke out previously, acting as the secondary target.
โ ๏ธ Disclaimer: This is NOT financial advice. Trading Forex and Commodities carries a high level of risk. Always manage your risk properly and use appropriate position sizing.
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