#GOLD / Gold / XAUUSD. Let's analyze the instrument/currency pair on the H1 timeframe and look for the most optimal entry point to make a good profit. To conduct a competent technical analysis, let's start by opening a chart with a 4-hour timeframe, which will help us correctly determine the current trend. The working indicators we will use to assess the market situation are HamaSystem, RSI Trend, and Magnetic_Levels_Color.
According to the Hama and RSI Trend indicators, we see a clear bearish sentiment - both indicators have changed to red, indicating the prevailing selling pressure in the market. Therefore, we open a short selling position. We will exit the position based on the magnetic levels indicator readings. Today, these levels are at 2467. After reaching the desired price level, it is worth looking at other target levels in the bearish range indicated on the chart. If the price continues to move actively and confidently in the south direction, we activate the Trailing stop and wait for further profit increase. Another option is to close a portion of the sales and move the remaining portion to breakeven. Conversely, if market prices start to slow down or stagnate with a clear decrease in volatility, we firmly close the deal with the profit already obtained and wait for the next clear signal for a new market entry.
