Gold is trading near 4285, between two liquidity areas marked on the M15 chart: the equal highs (EQH) at 4318.91 and the equal lows (EQL) at 4244.54. The BSL and SSL levels on the right show projected moves that could close the liquidity at those areas.
After reaching the 4310–4320 supply zone, price was rejected. The next rally stalled near 4298, leaving sellers with the short-term advantage while gold remains below 4298–4303.
SELL setup: The chart shows a proposed entry near 4285.21, invalidation at 4319.89, and an extended target at 4215.76. I would consider the downside move confirmed only after an M15 close below 4279, followed by a break of 4273.54. Until then, the 4279–4273 area may still support a rebound.
If the breakdown is confirmed, the levels to watch are 4253, then the EQL at 4244.54 and the previous day’s low near 4243.96. The reaction there matters: a sweep of the lows could lead to a rebound. The 4215.76 target is an extension that requires continued selling after that liquidity is taken.
The SELL scenario weakens if gold reclaims 4303 and moves firmly back into the 4310–4320 supply zone. A confirmed break above that zone would shift attention to the EQH at 4318.91.
The short-term bias is bearish, subject to confirmation. The immediate decision area is 4279–4273. At 4244–4243, we assess the reaction before expecting an extension toward 4215.76.
Probability over prediction.
