I. Current Market Status (Key Data from the Chart)
Current price: 4,151.35
Key levels (from chart):
Immediate resistance: 4,154.439 (0.886 retracement)
Nearby support: 4,142.719 (0.5 retracement), 4,139.169 (0.382 retracement)
RSI: 65.6 (entering overbought territory)
II. Updated Short-Selling Plan
1. Entry Zones (Aligned with Current Price Action)
Primary Entry Zone: 4,154–4,157Target the 0.886 retracement level (4,154.439) as immediate resistance.
Enter a short position if the price rallies to 4,154–4,157 and shows hourly bearish reversal signals (e.g., a rejection candlestick, shrinking volume).
Alternative Entry Zone: 4,158–4,160If bulls push above 4,157, wait for a test of 4,158–4,160 (near the 1.0 extension level of 4,157.892).
Enter a supplementary short position only if momentum weakens (no follow-through buying).
2. Profit Targets (Tied to Chart Support Levels)
For the entry zone of 4,154–4,157:The primary profit target is 4,142–4,143 (aligned with the 0.5 retracement level), and the secondary target is 4,139–4,140 (the 0.382 retracement level). When the price hits the primary target, reduce 50% of your position; then move the stop-loss of the remaining shares to your entry price to lock in a break-even level.
For the entry zone of 4,158–4,160:The primary profit target is 4,145–4,146, and the secondary target is 4,142–4,143. If the price drops quickly to the primary target, hold a portion of your position to aim for the secondary target; if the price stalls at support levels, exit the position entirely.
3. Stop-Loss Rules (Risk Control)
For entries at 4,154–4,157: Set stop-loss at 4,162 (above the 1.0 extension level, avoiding false breakout sweeps).
For entries at 4,158–4,160: Set stop-loss at 4,165 (to limit losses if bullish momentum accelerates).
4. Exit Rules
If price breaks below 4,139 (0.382 retracement) and closes hourly below it: Extend target to 4,130–4,132 (near EMA support).
If price hits the stop-loss level: Close the position immediately (signals stronger-than-expected bullish momentum).
GOOD LUCK!
LESS IS MORE!
Current price: 4,151.35
Key levels (from chart):
Immediate resistance: 4,154.439 (0.886 retracement)
Nearby support: 4,142.719 (0.5 retracement), 4,139.169 (0.382 retracement)
RSI: 65.6 (entering overbought territory)
II. Updated Short-Selling Plan
1. Entry Zones (Aligned with Current Price Action)
Primary Entry Zone: 4,154–4,157Target the 0.886 retracement level (4,154.439) as immediate resistance.
Enter a short position if the price rallies to 4,154–4,157 and shows hourly bearish reversal signals (e.g., a rejection candlestick, shrinking volume).
Alternative Entry Zone: 4,158–4,160If bulls push above 4,157, wait for a test of 4,158–4,160 (near the 1.0 extension level of 4,157.892).
Enter a supplementary short position only if momentum weakens (no follow-through buying).
2. Profit Targets (Tied to Chart Support Levels)
For the entry zone of 4,154–4,157:The primary profit target is 4,142–4,143 (aligned with the 0.5 retracement level), and the secondary target is 4,139–4,140 (the 0.382 retracement level). When the price hits the primary target, reduce 50% of your position; then move the stop-loss of the remaining shares to your entry price to lock in a break-even level.
For the entry zone of 4,158–4,160:The primary profit target is 4,145–4,146, and the secondary target is 4,142–4,143. If the price drops quickly to the primary target, hold a portion of your position to aim for the secondary target; if the price stalls at support levels, exit the position entirely.
3. Stop-Loss Rules (Risk Control)
For entries at 4,154–4,157: Set stop-loss at 4,162 (above the 1.0 extension level, avoiding false breakout sweeps).
For entries at 4,158–4,160: Set stop-loss at 4,165 (to limit losses if bullish momentum accelerates).
4. Exit Rules
If price breaks below 4,139 (0.382 retracement) and closes hourly below it: Extend target to 4,130–4,132 (near EMA support).
If price hits the stop-loss level: Close the position immediately (signals stronger-than-expected bullish momentum).
GOOD LUCK!
LESS IS MORE!
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Channel ABC Trading Strategy pinned «Hey everyone, it’s Vera—✨ I’m OFFICIALLY BACK! ✨ I’m thrilled to share: moving forward, I’ll be 🔍 laser-focused on GOLD TRADING! Expect exclusive perks like: 📈 Real-time gold market flash updates 🎯 Asian/European session trade setups (tailored just for gold)…»