GOLD (XAUUSD): Potential Bearish Continuation & Trading Plan

hey traders,

after a strong bullish movement that we saw at the beginning of January gold corrects itself.

On 4H the market has set a sequence of lower lows and lower highs
and currently, it is entering within a peculiar area from where we can expect a bearish continuation.


for confirmation of our predictions, I am paying close attention to a bear flag formation on 1H chart.
we need a bearish breakout of its support to short the market.

the initial target will be 1540
the second target can be extended to 1530

*if the market goes above the previous lower high our setup will be invalid and bias will switch to bullish!