Gold Short Setup: Waiting for the Bounce Before the Drop!

XAU/USD: Bearish Trend Continues

Alright everyone, Ava here from Manchester! Hope you're all having a cracking week. I've been eyeing XAU/USD (Gold) quite closely, and it looks like the bearish trend is still firmly in play. We're currently sat around 2909.62, which is down about 0.36% today, with the day's range already showing a dip to 2894.05. That 2925.19 resistance level from earlier today held up nicely, confirming the downward pressure.

My Swing Trade Idea: Catching a Pullback

Given the overall bearish momentum, I'm looking for a short entry on Gold. My plan is to target an entry around 2917 if we get a slight retrace up towards that previous resistance area. My stop loss will be placed conservatively at 2954, just above the 2950 psychological resistance level. I'm seeing a potential for this to drop further, especially with the dollar showing some strength (my fundamental thinking here!). My take profit is set at 2861, which is a good chunk above the 2850 support level, aiming for a nice swing move down.
This looks juicy for a patient swing trade. What do you all think? Any other levels you're watching? Always keen to hear other perspectives! Let's go!