My trade setup suggests a sell position on gold with the following parameters:
Entry Price: 2868
Take Profit (TP1): 2860
Target (TP2): 2848
Stop Loss (SL): 2875
Risk-Reward Analysis:
Risk (SL - Entry): 2875 - 2868 = 7 points
Reward (Entry - TP1): 2868 - 2860 = 80 points (R:R ≈ 1:1)
Reward (Entry - TP2): 2868 - 2848 = 200 points (R:R ≈ 1:3)
Trade Evaluation:
Short-term TP (2860) is relatively close, so the price might hit it quickly if momentum favors the downside.
Main Target (2848) offers a good risk-reward ratio (1:3), which is favorable if the trend continues.
SL at 2875 protects against unexpected reversals but is tight. If volatility is high, you may get stopped out before the move plays out.
Would you like to refine your strategy based on market conditions? I can check the latest gold price trends for you.