Gold XAUUSD Possible Move 17-21 FEB, 2025

Feb 15

1. Double Top Formation:
First Peak: The price reached the resistance zone ($2,940) and got rejected.
Second Peak: The price attempted to break this level again but faced rejection, forming the second top.
Neckline (Support Zone at $2,875 - $2,885): The price is now testing this area, which acts as a key decision point.

2. Bearish Confirmation (If Breakdown Happens):
If the price breaks below $2,875 and closes below this level, it confirms the double top.
The next potential downside target would be around $2,800 - $2,810 (measured move from the top to neckline).

3. Possible Scenarios:
✅ Bullish Rebound (Invalidates Double Top):

If the price holds $2,875 - $2,885 and bounces up, it could retest $2,940 - $2,960 again.
This would turn the pattern into a fakeout, leading to another bullish move.

❌ Bearish Breakdown (Confirms Double Top):
A clean break and close below $2,875 signals more downside.
Target: $2,810 (or lower if momentum continues).

4. Trading Strategy:
Short Entry (Bearish):
If price breaks below $2,875, enter a sell position.
Stop-loss: Above $2,890 (to avoid fakeouts).
Take profit: $2,810 (or trail SL if trend continues).

Long Entry (Bullish Reversal):
If price holds $2,875 - $2,885 and forms bullish confirmation (like a hammer or engulfing candle).
Stop-loss: Below $2,870 to protect from a fake breakout.
Take profit: $2,940 - $2,960.

Final Thought: If this is truly a double top, a break below the neckline could trigger a bigger correction. But if buyers step in, it could flip into a breakout-retest strategy instead.

Feb 19

Trade active

The first swing target has been achieved so far. From 2880 to 2940, it's 600+ pips in three days, now take 70% of your trade and trail with SL.

Feb 21

Trade closed: target reached

A perfect trade till 2954, just missed by 60 pips from final target. Though we made 740+ pips this week from this swing trade.