GOLD 4H — Major Trendline Retest & Bearish Setup 📉

Gold remains in a strong 4H bullish structure, but price is now showing signs of exhaustion near the upper trendline.
Price has been respecting the ascending trendline since the strong move from the 4,350 area , creating a series of higher highs and higher lows. However, the latest candles are struggling to continue higher, suggesting a potential pullback.
📉 SELL SETUP
Entry: 4,648.849
Stop Loss: 4,723.929
Take Profit: 4,520.922
Risk/Reward: approximately 1:1.7
🔎 Why I'm watching this setup
• Price is approaching the upper extension of the ascending trendline.
• Momentum has started slowing around the 4,650–4,700 region.
• Several recent candles are showing hesitation near the highs.
• 4,648.849 is the proposed entry/retest area.
• 4,520.922 is a major horizontal support level and the main downside target.
• The trade is targeting a pullback rather than trying to predict a complete reversal of the 4H trend.
⚠️ Important: This is a counter-trend short while the broader 4H structure is still bullish. A clean breakout above 4,723.929 would invalidate the bearish idea.
The higher-timeframe structure matters: I'm not looking to sell just because price is high. I'm waiting for rejection + confirmation + structure weakness before considering the entry.
Plan the trade. Wait for confirmation. Let price prove the setup.