Gold Bounce Play? XAU/USD Swing Long Setup on Key Support

Looking for a Gold Rebound

Hey everyone! Gold has been on a bit of a slide lately, clearly in a bearish trend if you look at the bigger picture. We're currently sitting around 2905.27, down about 0.5% in the last 24 hours. The day range has been between 2883.18 and 2927.36, so we're hovering near the bottom end of that today. While the overall trend is bearish, I'm spotting a potential swing long opportunity here, looking for a bounce off a key support zone.

My XAU/USD Swing Long Setup

My plan is to go long on XAU/USD around 2895. This level is just above the daily low of 2883.18 and aligns with a significant support area. I'll be placing my stop loss quite conservatively at 2842. This is well below the 2883.18 support and also below the next major support at 2850. If price breaks convincingly below 2850, then "charts don't lie," and the bearish momentum is likely to continue much further down. My take profit target is 2975, which aims for a retest of the 2950 resistance level. This is a counter-trend move, so good risk management is key. Fundamentally, any slight weakness in the USD or renewed safe-haven demand could fuel this bounce.
It's a swing trade, so I'm not expecting a full trend reversal, just a healthy retracement. "Trust the process" and stick to the plan! What do you guys think? Am I seeing something