Gold's Shine Fading? My Swing Short Setup on XAU/USD

XAU/USD: Bearish Trend & Resistance Check

Hey everyone, Yui here. Looking at XAU/USD, it's been a bit soft lately, down about 0.47% in the last 24 hours, currently hanging around 2906.25. The overall trend is clearly bearish, and we've seen it struggle to hold onto gains. The daily range today has been between 2885.61 and 2926.88, showing that the sellers are definitely in control when it pushes higher. I'm eyeing a potential short opportunity here, playing the bearish sentiment for a swing trade. Fundamentally, a stronger USD or shifts in inflation expectations could be contributing to gold's struggle, making it less attractive as a safe haven right now.

My Swing Short Setup: Trust the Process

Given the current setup, I'm looking to get in on a pullback or retest of resistance. My entry for a short position is set at 2913. This gives us a little buffer and aims to catch it if it attempts to retest some recent highs before turning lower again. My stop loss is pretty clear at 2946, which is just above the 2926.8