Trade what’s happening, not what you think is going to happen.
Hey everyone, my name is Rumi!
I’m excited to be back trading Gold and wanted to share my trade idea with the community. I’m always looking to learn and exchange insights, so I’d love to hear what everyone else is seeing! I’m just sharing my perspective, and of course, nothing is set in stone—just my take on the current price action.
My Trade Idea:
I’m looking at a potential short trade on Gold (XAU/USD), expecting a pullback towards the $2,870–$2,856 range. This aligns with a trendline I’ve marked on my 1-hour timeframe (chart reference: TradingView).
Why I See a Short-Term Pullback:
• Gold remains bullish overall, but I believe we could see a temporary correction before resuming the uptrend.
• Key Resistance: $2,900 is still an important level, and we could see some rejection before another push higher.
• Support Zone: My short-term target sits around $2,870–$2,856, where I anticipate buyers stepping in.
• Entry Confirmation: I’ll be watching the 15-minute timeframe for a new high that remains lower than the previous high—if this happens, that will be my confirmation for a sell-off.
• Bigger Picture: If Gold holds at $2,856 and forms a higher low, it would confirm a continuation back up to $2,900+ in the long run.
My Bias:
• Short-term: Bearish towards $2,870–$2,856
• Long-term: Bullish, looking for new highs beyond $2,900
Again, this is just my personal take—I’d love to hear what you all think! Looking forward to learning from and engaging with this awesome community.
Let me know your thoughts!
I’m excited to be back trading Gold and wanted to share my trade idea with the community. I’m always looking to learn and exchange insights, so I’d love to hear what everyone else is seeing! I’m just sharing my perspective, and of course, nothing is set in stone—just my take on the current price action.
My Trade Idea:
I’m looking at a potential short trade on Gold (XAU/USD), expecting a pullback towards the $2,870–$2,856 range. This aligns with a trendline I’ve marked on my 1-hour timeframe (chart reference: TradingView).
Why I See a Short-Term Pullback:
• Gold remains bullish overall, but I believe we could see a temporary correction before resuming the uptrend.
• Key Resistance: $2,900 is still an important level, and we could see some rejection before another push higher.
• Support Zone: My short-term target sits around $2,870–$2,856, where I anticipate buyers stepping in.
• Entry Confirmation: I’ll be watching the 15-minute timeframe for a new high that remains lower than the previous high—if this happens, that will be my confirmation for a sell-off.
• Bigger Picture: If Gold holds at $2,856 and forms a higher low, it would confirm a continuation back up to $2,900+ in the long run.
My Bias:
• Short-term: Bearish towards $2,870–$2,856
• Long-term: Bullish, looking for new highs beyond $2,900
Again, this is just my personal take—I’d love to hear what you all think! Looking forward to learning from and engaging with this awesome community.
Let me know your thoughts!
- #63,354
- Feb 5, 2025 9:28pm Feb 5, 2025 9:28pm
- Joined Jun 2011 | Status: Trader | 15,380 Posts | Online Now
- #63,357
- Feb 5, 2025 9:39pm Feb 5, 2025 9:39pm
- Joined Jun 2011 | Status: Trader | 15,380 Posts | Online Now
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- Feb 5, 2025 9:50pm Feb 5, 2025 9:50pm
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- #63,359
- Feb 5, 2025 9:54pm Feb 5, 2025 9:54pm
- Joined Jun 2011 | Status: Trader | 15,380 Posts | Online Now