XAU/USD: Betting Against the Bull - My Swing Short Setup

XAU/USDShortSwing1w ago20 views

Trade Setup

Entry Price

2949.00

Stop Loss

2995.00

Take Profit

2856.00

Risk : Reward

1 : 2.02

RiskReward

Hey folks! Hope everyone's having a solid trading week. Gold (XAU/USD) has been on a decent run, currently sitting around 2939.27, up about 0.66% today. The overall trend is definitely bullish, with the day range pushing up to 2968.18. But you know me, I trade what the chart shows, not just the prevailing sentiment. Sometimes, even the strongest trends need a breather, and I'm seeing a potential short setup for a swing trade here.

The Charts Don't Lie


While Gold is looking bullish overall, we're approaching some interesting levels. My short entry is planned for 2949. This is just below the day's high of 2968.18 and a key resistance zone. I'm looking for a rejection or exhaustion as we push higher towards that 2968.18 mark or even the psychological 3000 level. My Stop Loss is set tight but with enough breathing room at 2995. That's a good spot, just above the 2968.18 resistance and giving us a buffer before we hit the next major resistance at 3000. For the

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