XAU/USD (Gold) Bearish Channel

The XAU/USD pair on the M30 timeframe presents a potential selling opportunity due to a recent formation well-defined Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours.

Key Points:

Sell Entry: Consider entering a short position around the current price of 2321, positioned close to the top level of channel. This offers an entry point near the perceived shift in momentum.

Target Levels:
1st Support – 2296
2nd Support – 2281

Stop-Loss: To manage risk, place a stop-loss order above 2340. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.

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