
XAUUSD (1H) Trendline Break + POC Resistance Would you short this setup?
Been looking at XAUUSD on the 1H chart and I’m leaning a bit bearish short term, but I’m not fully convinced yet.
Price looks like it broke the ascending trendline and failed to really reclaim momentum after that. The 4.721 area (POC) has been acting like resistance from what I’m seeing, and the price seems to be drifting back toward the Fib 0.382–0.236 zone.
A few things making me cautious:
RSI around 43 → momentum feels weak
Volume picked up during the move down → sellers seem more active
Negative volume delta still suggests short-term selling pressure
Price staying under the Bollinger mid-band doesn’t look great for bulls
Parabolic SAR is still showing a sell signal
Levels I’m watching:
Support: 4.696 / 4.682 / 4.668 / 4.642
Resistance: 4.709 / 4.721 / 4.746 / 4.765
On the macro side, stronger USD expectations and bond yields still feel like a headwind for gold, but geopolitical stuff makes me think this could stay messy instead of trending cleanly.
Curious how others here would play this would you wait for a cleaner confirmation/retest before looking short, or does the trendline break + resistance rejection already count as enough confirmation for your strategy?