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$XAU (1h) - Bearish Rejection Short
Bias: Short
Entry (Zone): 4706.80 - 4709.20
Targets:
TP1: 4698.20
TP2: 4691.20
TP3: 4681.50
Stop Loss: 4721.00
Why this Setup:
I’m leaning short here because price is still struggling to reclaim the 4707-4710 pivot and the recent bounce is stalling under nearby resistance. I want to sell the rejection while momentum stays weak, with room for a quick move into the prior support area near 4698 and then the deeper range levels below 4691 if sellers keep control.