Gold is testing a long-term trendline resistance around $3,377 – $3,381, where selling pressure is emerging.
Entry: $3,377
Stop Loss: $3,381 (above trendline & resistance zone)
Target: $3,360
This setup aligns with a trendline rejection strategy, offering a short-term bearish opportunity. If the trendline holds, sellers could drive price back toward the $3,360 support zone.
However, a breakout above $3,381 would invalidate this setup and potentially open the way toward $3,400+.
#Gold #XAUUSD #Commodities #TradingView #PriceAction
Entry: $3,377
Stop Loss: $3,381 (above trendline & resistance zone)
Target: $3,360
This setup aligns with a trendline rejection strategy, offering a short-term bearish opportunity. If the trendline holds, sellers could drive price back toward the $3,360 support zone.
However, a breakout above $3,381 would invalidate this setup and potentially open the way toward $3,400+.
#Gold #XAUUSD #Commodities #TradingView #PriceAction
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.