XAUUSD, 15-minute timeframe chart

XAUUSD, 15-minute timeframe chart

XAUUSD tested the resistance level of 2636.5

👉General outlook
XAUUSD has been trading in a sideways market for the last couple of hours. The pair moved down to the resistance level of 2636.

👉Possible scenario
The best way to use this opportunity is to place a sell order at 2636

Set your stop loss at 2642 below the previous low ($6.00 loss for 0.01 lot) and take profit at 2620 ($16.00 profit for 0.01 lot).

The risk-reward ratio for this order is 1:1.