🔺Gold is currently trading around $4,293, with the short-term structure continuing to favour sellers. After topping near the $4,640 region, price has produced a sequence of lower highs and lower lows, showing that bullish momentum has weakened significantly.

Key Selling Area

🔺The chart highlights a potential sell/rejection zone around $4,310–$4,330. This area sits close to the descending resistance structure, so a pullback into this zone followed by bearish rejection could provide sellers with another opportunity.

What Retail Traders Should Watch

🔺Rather than chasing the move lower, it may be safer to wait for price to retrace into resistance. A rejection, bearish candle confirmation or lower-timeframe structure break from the marked zone would strengthen the bearish setup.

Main Downside Target

🔺The larger bearish target shown on the chart sits around $4,143. This level represents the next important downside liquidity/support area if sellers continue to control the market.

Overall Bias

Bias: Bearish below the current resistance structure.

🔺The idea remains simple: sell the pullback rather than sell the low. As long as Gold continues respecting the descending structure and fails to reclaim the nearby supply area, further downside towards $4,143 remains possible.

Good luck and trade safe!

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The Setupsfx_ Team