Gold is showing a clear bearish market structure after a strong impulsive drop. Price is currently retracing into a key supply zone around 4580–4600, which aligns with previous support turned resistance.
🔍 Key Levels:
* Supply Zone: 4580 – 4600
* Current Price: 4380
* Target Zone: 4175
📊 Scenario:
I’m watching for price to push slightly higher into the marked supply zone, where sellers are likely to step in. If we see rejection (weak candles / wicks / bearish confirmation), this could offer a solid short opportunity.
🎯 Targets:
* First reaction: 4350
* Main target: 4175 (major support)
⚠️ Invalidation:
A strong break and close above 4600 would invalidate the bearish idea.
Patience is key here — let price come to the zone and confirm before entering.
#XAUUSD #Gold #Forex #TradingView #PriceAction #SmartMoney #TechnicalAnalysis