Gold at Key Resistance: Short Opportunity Before Breakout?

Based on my chart, I’m analyzing XAU/USD (Gold) on the multi-timeframe, with key levels and trendlines marked. Here’s a potential trade idea derived from this technical setup:

Trade Idea:
• What: Short sell (SELL) Gold (XAU/USD) around 2,734–2,735 zone.
• Why:
• Price Action Resistance: The price is nearing a strong resistance area around 2,735–. 2,740, indicated by the horizontal orange and red lines. These levels have acted as significant selling zones in the past, which could cause a reversal.
• MSS (Market Structure Shift): There’s a shift in the market structure (MSS) slightly below, indicating a possible breakdown of bullish momentum after the recent uptrend.
• Ascending Trendline: The price is currently respecting an ascending trendline (in purple), but if it breaks this support level, it could trigger more downside.
• Fibonacci/Support Levels: The levels 2,730.46, 2,723.67, and 2,714.22 (orange and red lines) represent possible key retracement or support points where price could fall to if resistance holds.

How:
• Entry: Enter a short position near the current price of 2,734–2,735.
• Stop Loss: Place your stop-loss above the resistance at 2,741 to protect against further upward movement if price breaks above this zone.
• Take Profit: Target support zones at 2,730.46 (first target) and 2,723.67 (second target) for potential profit taking.

Risk Management:
• Ensure you manage position size to risk no more than 1–2% of your account per trade.