Gold's Bearish Run: A Short Play on XAU/USD

Alright KoraFX crew, Jack Martin here from sunny Sydney! XAU/USD has been looking decidedly bearish lately, currently sitting around 2908.71 after dropping -0.39% over the last 24 hours. The overall market trend is pointing south, and I'm seeing a solid intraday opportunity here.

The Setup: Catching the Downtrend

My eyes are on a short entry for Gold if we see a bounce up to the 2914 area. This looks like a sweet spot for a re-entry into the established bearish momentum. I'm placing my Stop Loss at 2941. That's strategically positioned above the daily high of 2925.65 and keeps us clear of the next significant resistance at 2950. For the Take Profit, I'm targeting