XAU/USD: Anticipating a Short-Term Retracement Amidst Bullish Momentum

Market Overview and Technical Justification

Gold (XAU/USD) has demonstrated a clear bullish trend, currently trading at 2933.36, up 0.46% over the last 24 hours. The day range has seen prices fluctuate between 2913.32 and 2953.39. While the broader trend remains bullish, I am observing potential for a short-term retracement, especially as price approaches the immediate resistance at 2953.39, which represents the day's high. My analysis suggests that after a strong bullish run, a period of consolidation or profit-taking is likely before the next leg up, if any.
My trade setup is to go short on XAU/USD at 2940. This entry point is strategically placed below the day's high of 2953.39, anticipating a rejection or exhaustion