$XAU is showing rejection near a key resistance zone
XAUUSDT
Perp
4,678.87
-0.48%
Trading Plan — Short Setup
Entry: $4,590 – $4,620
Stoploss: $4,650
Targets: $4,510 – $4,440 – $4,350
Price is repeatedly failing to reclaim resistance, forming clear lower highs and showing weakening momentum despite oversold conditions
There’s limited buyer response at current levels, suggesting the move lacks strength for continuation upward. Structure remains bearish as price consolidates below supply
With liquidity sitting below support, a breakdown continuation remains the higher-probability scenario