XAU/USD Technical Analysis (Revised): A Confirmed Sell SetupGoldOANDA:XAUUSDRich_From_HomeThis analysis outlines a tactical, aggressive short-term selling (scalping) opportunity on XAU/USD. The plan is now updated with a specific confirmation trigger to increase the probability of the trade. It is important to remember that this is a counter-trend trade, as the primary market bias remains bullish. I. The Aggressive Sell (Scalping) Setup The immediate price action suggests a short-term selling opportunity, but we will wait for confirmation before entering. Rejection from Resistance: The price has clearly been rejected from the key resistance level around 3,433.556, indicating that sellers are defending this zone. Initial Breakdown: The price has broken below the immediate consolidation area (gray rectangle) and is testing a crucial short-term support level. Trade Plan: Entry Confirmation (Key Condition): For a higher probability entry, we will wait for a 15-minute candlestick to close decisively below the support level of 3,423.915. This candle close serves as confirmation that sellers have gained control and that the breakdown is likely to continue. Entering before this confirmation is significantly more aggressive and carries higher risk. Stop Loss: Once the entry is confirmed, place a tight stop loss above the recent high and the main resistance level, around 3,439.035. This protects against a false breakdown and a swift reversal. Take Profit Targets: TP1 (Aggressive): The 0.618 Fibonacci retracement level (around 3,416.000) is the first logical target. TP2 (Full Target): The area between the 0.786 Fibonacci level and the lower support line (around 3,404.800) serves as the primary target for this corrective move. II. The Primary Buy (Main Focus) Strategy This sell trade is viewed as a temporary correction within a larger uptrend. Our main focus remains on finding an optimal entry point to go long (buy). Underlying Bullish Strength: The market's previous strong, impulsive move upwards indicates that the larger trend is bullish. The current downward price action is likely a healthy pullback. Potential Buy Zones: The take-profit areas for our short trade are the ideal entry zones for our primary buy strategy. We will be actively looking for buying opportunities in these key areas: Zone 1: The 0.618 Fibonacci level (~3,416.000). Zone 2: The 0.786 Fibonacci level (~3,408.000) and the surrounding ascending trendline support. We will wait for clear reversal signals in these zones—such as bullish candlestick patterns or a strong bounce—before committing to a long position. Summary: Our revised plan is to wait for a confirmed breakdown with a 15-minute candle close below 3,423.915 before entering a short (sell) position. This tactical sell aims to capitalize on the pullback. The strategic goal remains to exit the sell at key Fibonacci support levels and pivot to a buy position in alignment with the dominant bullish trend.