AmirMIssa

🎯 Gold extended its losses following a two-day round of high-level negotiations in Geneva, where China and the United States announced a joint statement aiming to end the trade war between the two countries.🤝 Key points of the new agreement:▪️ China will reduce tariffs on U.S. imports from 125% to 10% for a period of 90 days▪️ The U.S. will apply a base tariff of 10% on Chinese goods, along with a 20% tariff on fentanyl▪️ Both parties will begin implementing the revised tariffs starting May 14At the same time, the progress in negotiations and easing tensions between India and Pakistan have reduced demand for gold as a safe haven, leading to a drop in its price early in the week.Gold now appears headed toward previous support levels at 3227 and possibly 3180.

In this brief analysis, we examine a scalping opportunity on Gold (XAU/USD) using the 1-minute chart, focusing on a short-term technical setup supported by both price action and indicators.The chart displays a well-defined downward trend, confirmed by two descending red trendlines. These trendlines have been respected consistently by the price, indicating a strong bearish structure. At the time of analysis, the price action approached a key resistance zone around the 3,319 level.This resistance is notable for two reasons: it represents a horizontal level tested multiple times, and it coincides with a descending trendline, forming a confluence that increases the probability of a price rejection. This dual-resistance scenario presents a compelling case for a short entry.A sell position was initiated near this resistance area. The stop loss is placed above the resistance zone, near 3,325, to protect against a breakout. The take profit is set around 3,301, targeting a recent support level established by a strong previous low. This provides a clean technical target within the current structure.Supporting this trade idea, both the MACD and Stochastic Oscillator are showing overbought signals and have begun turning downward, suggesting weakening bullish momentum and the potential for a bearish reversal.The trade offers a risk-to-reward ratio of approximately 1:1.97, which is considered favorable in scalping strategies, where precision and timing are critical.

The price is currently trading around the 3353 level, after bouncing from a key support zone at 3329 dollars.In the first scenario, if the price continues to rise, it’s expected to reach the 3398 level — a very strong resistance area, as it aligns with a descending trendline and multiple previous highs. This zone could trigger a strong pullback, and we expect a new decline back toward the 3329 and 3319 levels respectively. The MACD is giving a bullish signal, and the Stochastic is also moving up from the oversold area, which suggests the possibility of a temporary upward move.

Gold has been moving in a downtrend, and there's a clear descending trendline marked in red. The price has just reached that trendline right around the 3316 level, which also aligns with a horizontal resistance at 3329 — making this a very strong resistance zone. The price surged from the support area near 3224, breaking through minor resistances until it reached the current level. But what we need to keep an eye on is that momentum indicators like MACD and Stochastic below the chart are starting to show overbought signals, which could mean the price might pull back or at least slow down.🎯 Expected scenario now:If the price fails to break above 3329 and can't push through the trendline, we might see a corrective drop toward 3269, and possibly down to 3224 again.However, if the price breaks above this zone with strong volume and holds above it, we could see a continued bullish move toward 3352 — which looks like an ideal selling zone.

Gold has broken out of a sideways trading range that lasted for about two weeks, between the resistance level at 3345 and the support level at 2275. Currently, gold is leaning toward a bearish outlook, targeting the 61.8% Fibonacci retracement level of the latest upward wave, which started in late November and peaked at $3500 earlier this month. The best selling opportunity for gold is around the 3238 level, with a stop loss at 3265 and a target at 3165.