Gold is compressing inside a descending triangle on the 1H timeframe, with price reacting multiple times from the 4670 support zone while lower highs continue to form under trendline resistance.
This type of structure usually leads to a strong expansion move once liquidity is taken.
What I’m Watching:
🔻 Bearish Scenario
If price breaks and closes below 4665, sellers could target:
• 4635
• 4600
• 4550
🟢 Bullish Scenario (Preferred)
If price sweeps the lows first, then reclaims support and breaks the trendline, upside targets become:
• 4745
• 4765
• 4780
• 4825
Smart Money Perspective:
Repeated tests of support often build liquidity below equal lows.
That means a fake breakdown below 4670 could trap sellers before a sharp reversal higher.
Key Levels:
4670 = major support
4720 = breakout confirmation
4745–4765 = supply zone
4550 = bearish target
My Bias:
As long as 4670 holds, I favor a liquidity sweep lower first, then expansion upward.
Patience here — the best trade may come after the trap move, not before.
What do you think: breakdown or fakeout pump?
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