XAU/USDBearish Trade Setup Supply Zone Rejection to Target $3050

Trend Overview

📉 Downtrend in Play

Price has reversed from the peak near $3,354

Currently trading below the 70 EMA (📍$3,299.86)

Forming lower highs – indicating bearish momentum.

Key Zones & Levels

🔶 Supply Zone (Resistance)

📍 $3,290.72 – $3,353.41

Strong selling pressure expected here

Possible short entry if price gets rejected

🟦 Support Zone (Previous Support)

📍 Around $3,254 – $3,210

Price has previously bounced here

🎯 Target Point (Take Profit)

📍 $3,050

Clear support level – used as a profit target


Trade Setup – Bearish Bias

🟩 Entry Point

📉 Sell near $3,290.72 (inside supply zone)

🛑 Stop Loss

❌ Above $3,354.69 (above resistance line)


✅ Take Profit

💰 Target $3,050

⚖️ Risk-Reward Ratio

Approx. 1:3 – Favorable for short trades.

Summary

🔍 Watch for a rejection in the supply zone
💼 Setup is ideal for short sellers
📊 Downtrend is supported by structure and EMA