Last hurrah for the gold bulls? $XAU /USDT hides danger on a 4-hour timeframe



$XAU /USDT - SHORT

Trade plan:
Entry: 4028.3 – 4034.1
SL: 4059.3
TP1: 4010.1
TP2: 3996.0
TP3: 3974.9

Why watch this structure?
- Trend: The 1-day timeframe is ranging and consolidating. On the 4-hour timeframe the direction is clearly bearish. RSI on the 15-minute chart has fallen to 44.32, and momentum has weakened.
- Signal: The current price 4031.2 is close to the SHORT entry zone. TP targets are 4010/3996/3974, with a stop-loss at 4059. The risk-reward ratio is above 2:1.
- Why now? RSI isn’t oversold. The bears have just started. After a range, the probability of a breakdown is high, and a long-squeeze trap is likely.

Discussion:
Are you going to push this short straight into TP2, or first let it bounce to bait longs and then crush? Where are you placing your orders?
XAU-1.81%
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