Gold's Intraday Pullback Play: Spotting a Short Opportunity

Why I'm Looking Short on Gold

Alright team, checking in on XAU/USD. Yeah nah, everyone knows the overall trend for Gold is bullish right now, with it up 0.51% over the last 24 hours. Current price is sitting around 2934.98. But hey, I trade what the chart shows, not just the hype. We've seen a solid run, pushing up towards the top of today's range (2912.51 — 2957.45). I'm seeing potential for a short-term intraday pullback here, looking to fade some of that recent strength.

The Setup: Technicals & Entry

My eyes are on that immediate resistance level at 2957.45. It's looking like a spot where we could see some profit-taking or a rejection. My plan is to enter a short position around 2946. That's just under that daily high and a pretty key level. If