Bearish Retest at Trendline Resistance – Sell the Pullback TowarGoldOANDA:XAUUSDKingProTraderThe chart shows a clear bearish trend: Price has been making lower highs and lower lows. The descending trendline connects major swing highs, confirming seller control. Both EMAs (15 & 50) are sloping downward, indicating bearish momentum. Price recently broke down from the 4,070–4,080 area and is now attempting a corrective bounce. Key Levels Resistance Zone (Sell Area) 🟦 4,060 – 4,075 Previous support turned resistance. Confluence with the descending trendline. Near the EMA cluster. A rejection here would strengthen the bearish continuation scenario. Support Zone 🟦 3,975 – 3,990 Recent consolidation base. Buyers previously defended this area. A break below would likely trigger another leg down. Expected Scenario (Based on Drawing) Scenario 1: Bearish Continuation (Higher Probability) Price rallies into 4,060–4,075 resistance. Sellers reject the retest. Price drops toward 3,980 support. Support breaks. Next bearish targets: 3,950 3,920 3,880 (extended target) This aligns with the dominant downtrend and the trendline resistance. Scenario 2: Bullish Invalidation If price: Closes strongly above 4,075–4,080, and Breaks the descending trendline, then the bearish setup weakens. Bullish targets would become: 4,120 4,160 4,200 Trade Idea Aggressive Short Entry: 4,060–4,075 rejection Stop Loss: Above 4,085–4,095 Target 1: 4,000 Target 2: 3,980 Target 3: 3,920 Conservative Short Wait for: Rejection at resistance, then Break below recent swing low around 3,990 This provides confirmation before entering.