Gold's High Fly: Time for a Breather or Just Getting Started? My Intraday Short Play.

XAU/USD: Watching for a Pullback

Alright team, let's talk about Gold (XAU/USD). It's been on an absolute tear lately, sitting around 2943.29 right now, up 0.8% in 24 hours. The overall trend is clearly bullish, no denying that. But sometimes, even the strongest trends need to catch their breath, especially when they're pushing into significant resistance areas. We've seen the day high hit 2978.23, and that big psychological 3000 level is just around the corner. I'm looking at potential exhaustion here, especially on shorter timeframes.

The Setup: Shorting from Resistance

Given the strong run-up and proximity to resistance, I'm eyeing an intraday short. My entry target is 2954. This isn't about fighting the long-term trend, but rather trying to catch a quick pullback. My Stop Loss is set at 3010 – that's safely above the major 3000 resistance and gives enough room in case of a quick spike higher. For Take Profit, I'm aiming for 2842. This would take us below the daily range's low of 2908.35 and past the 2900 support, targeting the 2850 zone. A potential slight