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Frenzy_Trader

Short Position XAU/USD (1h Timeframe)

Short
Gold Spot / U.S. Dollar (FOREXCOM:XAUUSD)  
Frenzy_Trader Updated   
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Chart Patterns Technical Indicators goldshort goldsignals
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trendanalysis chartpattern indicator goldshort goldsignals

Position: Short

Entry Range: 1907.71 - 1906.00

Take Profit (TP): 1896.96

Stop Loss (SL): 1908.40

Analysis:
Given the recent price action and technical indicators on the 1-hour timeframe, a potential shorting opportunity for XAU/USD has been identified. The pair seems to be exhibiting signs of a minor pullback, providing a short trading opportunity.

Adding that the macro trend for gold remains bearish in the longer term, it's additional signal for SHORT. The chosen entry range has been selected based on recent resistance and potential trend reversal points.

Always keep an eye on broader market news and potential geopolitical events that can influence gold prices.

Ensure proper risk management and never risk more than a predetermined percentage of your portfolio on any single trade.

Happy Trading!
Trade closed: target reached:
TP reached
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