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2 days ago

💠In trading, every loss brings an opportunity to reflect and improve. Use this time to reassess your strategy and mindset. Remember, the best traders are those who learn to navigate losses with grace and determination.

🔷Analyzing Gold With Fibonacci Tools For Swing Trading

Market Summary
Daily Current Market Price (DCMP): 91,685
Swing High: 93,547
Swing Low: 66,778

Market Position: Trading above Weekly Pivot (73,548)
Key Technical Levels
Weekly Pivots (Major Levels)
R3: 84,083
R2: 80,059
R1: 77,572
Pivot: 73,548
S1: 69,523
S2: 67,037
S3: 63,012

Daily Pivots
R3: 93,906
R2: 92,056
R1: 90,912
Pivot: 89,062
S1: 87,211
S2: 86,068
S3: 84,217

Swing Trade Setups
Buy Setup (Based on Daily Pivot)
Entry: 89,062 (Daily Pivot)

Stop Loss: 87,211 (Daily S1)
Take Profit 1: 90,912 (Daily R1)
Take Profit 2: 92,056 (Daily R2)

Reason: Strong support at Daily Pivot with clear resistance targets

Sell Setup (Based on Daily R2)
Entry: 92,056 (Daily R2)
Stop Loss: 93,906 (Daily R3)
Take Profit 1: 90,912 (Daily R1)
Take Profit 2: 89,062 (Daily Pivot)

Reason: Strong resistance at Daily R2 with confluence of technical levels
Critical Price Zones

Support Zones
89,062 - 89,100 (Daily Pivot)
87,211 - 87,250 (Daily S1)
86,068 - 86,100 (Daily S2)

Resistance Zones
92,056 - 92,100 (Daily R2)
93,547 - 93,600 (Swing High)
93,906 - 94,000 (Daily R3)

Trading Guidelines
Current price (91,685) is between Daily R1 and R2
Strong resistance cluster near 92,000-92,100
Key support at Daily Pivot (89,062)
Maintain strict stop losses as provided
Consider scaling out at each target level

Risk Management Notes
Use maximum 1% risk per trade
Trail stops after first target hit
Monitor price action at pivot levels
Consider market volatility before entry
Watch for breakout/breakdown scenarios

2 days ago

buy or sell

2 days ago

🏆Gold Intraday Trade Setup: Sell Setup (Resistance Zone )

Intraday Trade Setup: Sell Setup for Gold (Entry Price: 2588)

Trade Setup

Trade Type: Sell

Entry Price: 2588 (Sell Limit Order)
Stop Loss: 2600 (12 points above entry)
Take Profit 1: 2560 (28 points)
Take Profit 2: 2530 (58 points)

Short Reason for Entry:
Gold is approaching a strong resistance zone near 2588, which aligns with the 50% Fibonacci retracement level of the recent upward move from 2450 to 2630. The price has struggled to break above this level multiple times, indicating strong resistance.

Additionally, the RSI is showing overbought conditions, suggesting that the bullish momentum is weakening. With this combination of technical resistance and waning momentum, the likelihood of a price reversal to the downside increases, making this a suitable point to enter a short position.