Lingrid | GOLD Shorting Opportunity at Confluence ResistanceOANDA:XAUUSD is approaching the key resistance near 3360 after rebounding from the 3245 support level and breaking out of the downward channel. Price is now testing the upward trendline from below, intersecting with the red descending trendline and horizontal resistance. If this confluence zone rejects the rally, a return toward 3305 or lower is likely, forming a potential bearish retest.
📉 Key Levels
Sell zone: 3350–3360
Buy trigger: breakout above 3360 with close above 3375
Target: 3305
Sell trigger: rejection from 3360 and break of 3340
⚠️ Risks
Break and retest of 3360 may invalidate short setup
Volatility around red trendline could trigger fakeouts
Demand near 3305 may cause sharp bounces if sellers stall
If this idea resonates with you or you have your own opinion, traders, hit the comments. I’m excited to read your thoughts!
