Gold is trading around $4,061 after recovering from the sell-side liquidity area near $4,020. However, price remains below the descending bearish trendline and the $4,095–$4,105 OB zone, keeping the broader sell structure intact.

The macro backdrop remains mixed. Middle East uncertainty continues to support safe-haven demand, while stronger US manufacturing data and firmer Treasury yields may limit the recovery. Attention now turns to US job openings data and Friday’s employment report, which could reshape expectations for the Federal Reserve’s next move.

SMC View

The bearish MSS near $4,028 confirmed that the previous bullish sequence had weakened. Price later swept the marked SSL and recovered, but this rebound remains corrective while Gold stays below the bearish trendline.

The $4,095–$4,105 OB is the main decision zone because it aligns with trendline resistance. Selling near the current price would mean entering in the middle of the range, so bearish rejection and a lower-timeframe MSS or CHOCH are required.

Main Trading Scenario

Condition:

Gold retraces into the $4,095–$4,105 OB zone and forms a clear bearish rejection below the descending trendline. A lower-timeframe bearish MSS or CHOCH is required before entry.

Entry: $4,095–$4,105 after bearish confirmation
SL: Above $4,110 and the rejection high
TP1: $4,060–$4,065
TP2: $4,020–$4,028
TP3: $3,968–$3,980

Key Zones to Watch

Current price: $4,060.905
Main sell zone: $4,095–$4,105
Sell-side liquidity: $4,020–$4,028
Main target: $3,968–$3,980
Invalidation: Acceptance above $4,110
Confirmation: Bearish rejection with MSS or CHOCH

Prime Gold View

The sell bias remains valid while Gold stays below the bearish trendline and the $4,095–$4,105 OB. The preferred plan is to wait for a confirmed retracement rather than chase an entry near the current price.

If sellers defend the OB, price could rotate toward $4,020–$4,028 and potentially sweep liquidity near $3,968–$3,980. Acceptance above $4,110 would weaken the bearish setup.

No confirmation, no trade.