H2 Trendline Retest Sell SetupGoldOANDA:XAUUSDMason_DrakeXAUUSD is trading around 4,045 after another rejection from the broader bearish trendline. Price remains inside a wide compression structure, with lower highs keeping the short-term bias bearish. Gold ended July with its first monthly gain in five, but Friday’s rebound in the U.S. dollar triggered renewed selling. The Fed held rates at 3.50%–3.75%, while three policymakers preferred a rate hike, leaving gold exposed to continued dollar and Treasury-yield volatility. Technical View Gold remains below the descending trendline, while the latest recovery has failed to change the bearish structure. The 4,105–4,115 area is the main sell zone. It combines trendline resistance, buy-side liquidity and previous supply. A rejection or lower-high formation inside this zone would confirm renewed seller control. The first support sits at 4,018–4,028. This area may produce a temporary reaction, but a confirmed breakdown would expose the deeper order block around 3,962–3,972. Key Zones Current price: 4,045 FVG reaction area: 4,045–4,055 Main sell zone: 4,105–4,115 First support: 4,018–4,028 Main target: 3,962–3,972 Bearish invalidation: above 4,120 Trading Plan Sell Priority: 4,105–4,115 Condition: wait for an H2 retracement into the sell zone, followed by bearish rejection, a failed trendline breakout or lower-high confirmation. SL: above 4,120 TP1: 4,045–4,055 TP2: 4,018–4,028 TP3: 3,962–3,972 Important Note The 4,018–4,028 support may create a short-term rebound before the final bearish leg. Avoid chasing a direct breakdown without a confirmed retest. Acceptance above 4,115 and the bearish trendline would weaken the setup. A sustained H2 close above 4,120 would invalidate the sell view. Final View Gold remains bearish below trendline resistance. The preferred setup is a confirmed rejection from 4,105–4,115, targeting 4,020 first and 3,965 if support fails. Will gold retest the upper liquidity zone before extending toward 3,970?