Gold: Bearish Structure Dominates 🐻
Gold gave us a fakeout first with bullish BOS, then reality hit 😅 Bearish CHoCH confirmed the shift, followed by a clean BOS breaking 4,510.
That downtrend line from 4,575 high is running the show 👑. Four recovery tries, four rejections. Trendlines don’t lie.
Above we’ve got a 5-layer resistance wall 🧱: downtrend + CHoCH + BOS + 2 FVGs at 4,507-4,528. Sellers are stacked there. Higher up, 3 more FVGs confirm supply is heavy.
Old support 4,510 is now resistance 🔄
Next stops: 4,490 then 4,478-4,480 ⬇️
Structure is bearish until price proves otherwise