$XAU Price is currently trading around 4,434.89 (+0.02% in a consolidation phase near local resistance). On the H1 chart, the overall trend remains bearish with price forming lower highs and lower lows. The current upward movement is a textbook relief bounce testing the overhead resistance zone, setting up a high-probability Short opportunity.
📌 Trading Plan (Short Setup):
💥 Short Entry Zone: 4426 – 4454
💥 Stop Loss (SL): > 4503
🎯 Take Profit Targets:
🎉 TP1: 4306 – 4333
🎉 TP2: 4202 – 4232
👉 Following a sharp decline from the highs above ~4,640, price established a local bottom and pushed upward in a corrective recovery leg. It is now approaching dynamic resistance on H1, where sellers are expected to step back in to defend the trend.
👉 The key short entry range lies between 4426 and 4454. This area serves as a major flip zone (prior support turned resistance) and aligns with technical moving average resistance, making it an ideal level to catch a rejection.
👉 Key Invalidation (SL): A sustained breakdown of structure above 4503 invalidates this Short thesis and suggests a potential trend reversal back upward.
Click here to view the chart 👇️👇👇
📌 Trading Plan (Short Setup):
💥 Short Entry Zone: 4426 – 4454
💥 Stop Loss (SL): > 4503
🎯 Take Profit Targets:
🎉 TP1: 4306 – 4333
🎉 TP2: 4202 – 4232
👉 Following a sharp decline from the highs above ~4,640, price established a local bottom and pushed upward in a corrective recovery leg. It is now approaching dynamic resistance on H1, where sellers are expected to step back in to defend the trend.
👉 The key short entry range lies between 4426 and 4454. This area serves as a major flip zone (prior support turned resistance) and aligns with technical moving average resistance, making it an ideal level to catch a rejection.
👉 Key Invalidation (SL): A sustained breakdown of structure above 4503 invalidates this Short thesis and suggests a potential trend reversal back upward.
Click here to view the chart 👇️👇👇
