XAU/USD: Gold's Bearish Descent – My Swing Short Play!

Hey everyone, Zeynep here, checking in from Izmir! Gold has been on a proper slide lately, and today's no different, sitting at 2898.44, down a solid 21.56 points, or 0.74%. The bearish trend is definitely in play, and I'm eyeing a swing short opportunity here.

Chart Talk: A Classic Bear Setup

Looking at the XAU/USD chart, we've clearly broken down, and the momentum is pointing lower. The day range has been between 2866.09 and 2930.78, showing sellers are firmly in control. My entry for a short position is at 2914. This is a classic setup right here – I'm looking for a retest of a previous level that has now turned into resistance before the next leg down. We've got clear resistance overhead at 2930.78, then 2950, and 3000. My stop loss is placed well above that at