XAUUSD : Bearish Rejection at Supply Zone & Trendline ConfluenceGold vs US-DollarGBEBROKERS:XAUUSDfx_martin9🔍 Market Structure & Technical Breakdown Overall Bias: Bearish. The asset experienced a clear Change of Character (CHOCH) at the top left, followed by a sustained Break of Structure (BOS) to the downside. The Correction: Price temporarily rallied out of a Downward Channel via a Market Structure Shift (MSS), but failed to sustain higher prices, putting the broader bearish momentum back in control. Confluence Zone: We are currently looking at a high-probability Short Setup forming around the $4,020 - $4,040 region. This setup is heavily reinforced by a strong confluence of factors: Descending Trendline: Price is reacting directly underneath a well-respected, multi-touch bearish trendline. Supply Zone: The blue horizontal box represents a key historical order block/supply zone where sellers have previously stepped in aggressively. 📉 Trading Setup (Short Opportunity) Execution Area: Sell limit or price action rejection within the blue Supply Zone ($4,020 - $4,035), aligned with the descending trendline touch. Invalidation/Stop Loss: A clean daily close or sustained hourly candle body closing above the trendline and supply zone (above $4,045). Take Profit (Target): The recent local swing low liquidity pool at $3,965.