gold (xauusd) according to lower time frame,
Based on the chart provided:
1. **Descending Channel**:
- Gold appears to be trading within a descending channel, indicating a bearish trend in play.
2. **Resistance Zone**:
- A resistance area is marked near the upper trendline of the channel, suggesting that sellers might enter around this level.
- Price is currently near this resistance zone.
3. **Bearish Confirmation**:
- The text notes to wait for bearish confirmation before executing a sell trade. This could involve a rejection from the resistance zone (e.g., a bearish candlestick pattern like a pin bar, engulfing candle, or increased selling volume).
4. **Trade Plan**:
- If bearish confirmation occurs at the resistance zone, price is expected to drop back toward the lower boundary of the descending channel.
- Potential targets:
- Mid-level support (likely around 2630).
- Lower channel line (near 2610 or lower).
5. **No Confirmation, No Trade**:
- If price fails to confirm bearish rejection and instead breaks out above the resistance zone, no trade should be executed as the bearish structure would be invalidated.
