💡 Ensure proper risk management when following signals! 💬 Comment: " Reason for Selling:
Bearish Reversal Potential:XAU/USD is showing signs of a potential reversal after a recent rally, with selling pressure likely to increase. Resistance Rejection:The current price is nearing a key resistance zone, suggesting a high probability of a price decline.
Entry Point Justification: Entry at 2514.08: Positioned just below a strong resistance level, allowing for an optimal entry as the market is expected to reject this area.
Take Profit Targets: TP1 (2507.52): A short-term target to capture quick gains from the initial price drop. TP2 (2498.56): A mid-term target reflecting further bearish momentum as the price continues to fall. TP3 (2485.33): A long-term target for capturing a significant portion of the downtrend. TP4 (2472.36): An extended target to maximize gains if the bearish trend intensifies and a deeper pullback occurs.
Stop Loss Justification: SL at 2519.45: Placed just above the resistance level to limit losses in case of an unexpected breakout, while allowing room for market fluctuations."