Nice idea on XAUUSD and there may be bearish potential as you have identified. I have identified a resistance level at 1189.7, which the price may test before potentially seeing a reversal for the short opportunity. It is the lower limit of the current H4 range of my analysis and is slightly higher than your entry level at retest before the potential reversal. Looking forward to seeing how things develop.
Please have a look at my idea and share with me what you think.