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$XAU (1h) - Bearish Rejection Short
Bias: Short
Entry (Zone): 4498.0 - 4506.0
Targets:
TP1: 4478.0
TP2: 4462.0
TP3: 4440.0
Stop Loss: 4524.0
Why this Setup:
I’m shorting into this recovery because price is still below the prior breakdown area and the recent bounce is running into overhead supply. I want a rejection from this zone for continuation back toward the recent lows and then lower if momentum stays weak.