From the time I started trading in forex and other markets, XAUUSD has been one of my favourites. I dont know why but the movements in XAUUSD has been the most predictable in my trading career. but for now, the price has been making lowers lows and lowers highs and thus it is in a downtrend. So the most 'rational' things to do to make the probabilities favour us would be to go short. there is also an order block with an imbalance above it in the bottom, which is a demand area. And it would be right to keep the target there. and take the trade 'Only' if the price reaches above the discount price at the 0.618 level of the fibs or at the bearish order block with imbalance.