XAUUSD Bearish Breakout Setup from Ascending Triangle RetestGoldOANDA:XAUUSDDrForexPhd1. Market Structure The chart shows a strong downtrend, followed by a Break of Structure (BOS) to the downside. After BOS, price formed a corrective ascending structure (an ascending triangle / rising wedge). 2. Current Pattern Price is moving upward in a corrective manner, showing lower bullish strength. The ascending trendline is acting as temporary support. The horizontal resistance at the top of the triangle reflects slowing bullish momentum. 3. Short Entry Logic The marked point (yellow circle) shows price tapping the ascending trendline. The red arrow indicates entry short, expecting a breakdown from this rising structure. This matches the logic: ✔ Downtrend ✔ BOS ✔ Weak bullish correction ✔ Short at trendline retest before a bearish continuation 4. Target Expectation The “TARGET” label points upward, but based on context this seems contradictory. Given BOS and corrective rise, the logical target is downward, toward previous liquidity levels or lows. The triangle breakout normally aligns with continuation of the previous trend, which is bearish. 5. Trade Bias Bias: Bearish Reason: Structural break + corrective pullback + rising wedge = continuation pattern. 6. Risk Considerations Stop-loss usually goes above the most recent swing high inside the correction. Watch for any strong bullish candle breaking above the ascending structure — that invalidates the setup.