Gold sellGoldOANDA:XAUUSDOsokamGot it ✅ — let’s break this chart down: 1. Instrument & Timeframe Gold Spot (XAU/USD) 1H timeframe (OANDA feed) Current price: $3,632.66 --- 2. Trade Setup Entry Zone: Around $3,632 – 3,633 (current market). Stop Loss: $3,644.58 (≈ 13 points / 0.36% above entry). Target: $3,588.79 (≈ 43 points / 1.18% below entry). Risk/Reward Ratio (RRR): 3.28 → good risk/reward profile. Open P&L: -11,305 (floating loss, 19 contracts open). --- 3. Market Structure (1H View) Trend: The market had a bullish run earlier (from ~$3,520 up to ~$3,640). Now it’s showing signs of consolidation and potential retracement. Resistance: Around $3,641 – 3,645 (price rejected near the stop level). Support: Around $3,588 – 3,590 (target zone), which aligns with the nearest structural demand/support. Candles: Current rejection candles near the highs suggest sellers are defending the $3,640s area. --- 4. Volume & Liquidity Clues Price action shows tight consolidation after a strong rally — a typical sign of distribution or potential pullback. Sellers are attempting to push down from resistance, and buyers are weakening. --- 5. Trade Assessment Bias: Bearish (short position taken). Stop Placement: Logical (above recent swing highs and resistance). Target: Reasonable, aligned with prior demand zone (~$3,590). Risk/Reward: Strong (3.28:1), meaning reward outweighs risk significantly. --- 6. Scenarios 🔴 Bearish Case (favored) If price breaks below $3,626, strong momentum could push it to $3,600 → $3,588 target. This would confirm distribution at the top. 🟢 Bullish Case (invalidates trade) If price sustains above $3,640 – $3,645, shorts will be squeezed, and market could extend higher toward $3,660 – $3,670.