Breakdown of the Gold (XAU/USD) Trade (March 21st, 2025)
This breakdown includes the Scalper Pro Trade Level and Fibonacci retracement strategy used to identify the key entry point for the Gold (XAU/USD) trade. The entry was at $3,034.48, with a stop loss of 75 pips and a target of 150+ pips.
Before the Trade - Identifying the Setup
Scalper Pro Level:
- - The Scalper Pro Trade Level was identified at $3,034.48, which provided the main entry point for the trade.
- - This level was triggered at 8:35 AM EST, and we used it for the short trade setup.
Fibonacci 0.618 Rejection Level:
- - The 0.618 Fibonacci level at $3,035 was identified as a key resistance level on the higher timeframes, especially on the 4-hour chart.
- - $3,035 was an important rejection zone, and we anticipated that price would struggle to break above this, leading to a bearish move.
Trade Setup:
- - Entry: The main entry was at $3,034.48, which was the Scalper Pro level. The expectation was for price to reject this level and move lower toward the target.
- - Stop Loss (SL): The stop loss was set at 75 pips, just above the Scalper Pro level, providing a reasonable buffer in case of a false breakout.
- - Take Profit (TP): The target was set at 150+ pips, anticipating the price to reach the $3,000 level or lower.
After the Trade - Outcome and Profits
Trade Progression:
- - After the entry at $3,034.48, the price moved as expected and rejected the key level at $3,035.
- - Gold quickly dropped, hitting the 150+ pips target, reaching $3,000 and providing profitable results.
- - For traders who left runners, the price continued its descent, reaching as low as $2,990, giving them the opportunity to capture 350+ pips.
Trade Summary:
- - Entry: Sell at $3,034.48 (triggered by Scalper Pro level).
- - Stop Loss: 75 pips (above the entry level).
- - Take Profit: 150+ pips (reached the $3,000 level).
- - Runners: For those who kept positions open, the price dropped as low as $2,990, giving a 350+ pip move.
Key Takeaways:
Scalper Pro Trade Level: The $3,034.48 level was the key entry point, triggered at 8:35 AM EST. This was the main trade entry, and it worked perfectly with the higher timeframe Fibonacci resistance.
Fibonacci Confirmation: The 0.618 Fibonacci level at $3,035 acted as strong resistance, confirming the bearish move.
Risk-to-Reward: The trade had a 75 pip stop loss and a 150+ pip target, with the possibility of extending gains to 350+ pips.
Conclusion:
- - The trade successfully utilized both Scalper Pro and Fibonacci techniques to identify the key sell level at $3,034.48, with confirmation from the 0.618 Fibonacci level at $3,035.
- - The market rejected the resistance zone and dropped significantly, hitting the 150+ pip target and more for those leaving runners.
