XAU/USD: Fading the Bullish Overextension for an Intraday Reversal

Technical Setup & Market Structure Shift

While the overall trend for XAU/USD remains bullish, and we've seen a respectable 0.63% move today, pushing the price to 2938.33, my analysis is flagging a potential overextension. The daily range has seen price move from 2910.83 to 2965.83, and we're currently hovering near the upper end of that range. This is where I start looking for opportunities to fade the consensus.
I'm identifying a high-probability zone for a short entry around 2947. This level sits just below the immediate resistance at 2965.83 and the psychological 3000 mark. The