NFP week compression trade. Gold has been ranging between 2335 and 2380 for six days. Fading the move toward range resistance with a tight stop. Not a high conviction trade (hence the 5/10) but high probability within the range. R:R is 1:2 if hit from current levels. Flat out at 2378 if it breaks.

Gold rejected at 2380 resistance three times in London session. Each rejection got lower — 2379, 2378.5, 2378.2. That is a textbook lower high pattern. DXY bouncing off 104.5 support. 15-minute chart showing bearish engulfing at resistance. Targeting the Asian session low at 2345. Wider stop because NY volatility could spike through resistance before dropping.