This trade involves shorting Gold Spot (XAU/USD) on the 1-hour chart due to a bearish reversal pattern and a break below the ascending channel's lower trendline. The price has encountered strong resistance at the 2,380-2,390 USD zone and failed to break above it, suggesting a potential downside. The entry is at 2,373 - 2,374 USD with a stop loss at 2,381.97 USD and take profit levels at 2,310, 2,288, and 2,273 USD. This setup aims to capitalize on the anticipated decline while managing risk effectively.
Beyond Technical AnalysisChart PatternsgoldanalysisgoldjulyTrend Analysisxauusdshort

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