Trade Idea: XAUUSD Short (SELL STOP)

13 Feb

Technical Analysis:
1. Daily Chart:
• RSI at 76.04 is in the overbought territory, indicating a potential reversal.
• MACD shows bullish momentum but is at a high level, suggesting a possible pullback.
• The price has reached a key resistance area around 2905.74 after a strong bullish run.
2. 15-Min Chart:
• RSI at 60.94 is approaching overbought conditions.
• MACD shows weakening bullish momentum, hinting at a potential reversal.
• Price has made a lower high compared to the previous peak, indicating bearish divergence.
3. 3-Min Chart:
• RSI is neutral but showing signs of divergence.
• MACD is flattening, suggesting momentum is fading.
• Price action shows a failure to break above the recent high.

Fundamental Analysis:
• Gold is at a historically high level, increasing the probability of profit-taking and a corrective pullback.
• Recent bullish momentum may face resistance due to overbought technical indicators.
• There are no significant fundamental drivers supporting a continued rally at this resistance zone.

Trade Details:
• Entry: 2905.00 (Near the resistance level, anticipating a reversal)
• Stop Loss (SL): 2915.00 (Above the recent high, to avoid false breakouts)
• Take Profit (TP): 2885.00 (Key support area and maintaining a 2:1 RRR)


Reasoning:
• The overbought RSI on the Daily and 15-min charts suggests limited upside potential.
• The resistance at 2905.74 aligns with historical levels, increasing the likelihood of a reversal.
• Bearish divergence and fading momentum support a short position with a favorable risk-reward setup.
XAUUSD

13 Feb

Catatan

TRADE IS CONSIDERED INVALID IF SL IS TRIGGERED BEFORE ENTRY