Gold price rebounds to EMA resistance, with shorts lying in ambush



$XAU /USDT - SHORT sell

Trading plan:
Entry: 4115.49 – 4120.65
SL: 4142.87
TP1: 4099.47
TP2: 4087.07
TP3: 4068.47

Why focus on this structure?
XAU_USDT is currently showing a 4H bearish signal. The RSI on 15m is 58.53 and has not entered overbought territory, and the 1H EMA is suppressing price around 4118. Why now? Because the 1D trend is ranging; the short pullback has rebounded into the resistance zone, and there is room below TP1 at 4099. If it breaks above 4120, be cautious of a reversal.

Discussion:
For this short, should we first look at TP1 4099, or will it be a bull trap and rally to 4130?
XAU0.28%
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