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To be honest, I’m bearish on gold right now, and I think a lot of people chasing gold’s rally are going to be going in the wrong direction.
This is what actually happened. Prices consolidated in this area for three days between May 12 and 14, hovering in the 4,700-4,720 range. He looked constructive, like he wanted to stand up. Then on May 15, the smart money started selling it off—cleanly, quickly, and without hesitation. This movement does not happen by accident. Institutions add positions to the top, then sell through accumulation, and then fall, as expected by SMC logic.
Since the crash, we’ve seen SSL sweep to the same lows, the BOS confirmed the downside, and now two ChoCH signals are trying to make bulls feel safe again. May 19th, May 21st. Prices rallied twice, but both times failed to recover anything meaningful. This isn’t a reflection – it’s a trap. Smart money will engineer pullbacks to collect liquidity before the next dip.
The area I’m focusing on is the FVG at 4,589 to 4,600. This glitch has not been touched since the breakout candle. If price rebounds into this area and shows rejection – weak spread, slow approach, wick in this area – that’s the sell setup I want. No FVG retest, no transaction. I wouldn’t chase anything at the current price.
The first target is 4,488. There is invisible selling liquidity below this level and is the most logical price pull at the moment. If this is fully broken, it will then open up to 4,460 without any major impact in between.
Undoing is easy. The first half closed above 4,600 points with strong momentum. This turned the whole situation around and I immediately stepped aside. There is no ego, only level.
The descending channel has held every bounce so far. I would sell strong stocks until there is structural change rather than buy on dips.
So tell me, do you think these ChoCH signals are a true reversal or just the cleanest bull trap gold has built all month?