FX.co ★ Naeem2g | XAU/USD, GOLD

*XAUUSD 15M* chart Gold Spot / U.S. Dollar | Current: _4,589.880_ | -12.165 (-0.26%) Indicator: *EMA 200* | Marked: *SBR 4,600* This is a *Resistance Rejection → Bearish Continuation* setup. Price tried to reclaim 4,600 SBR and EMA 200 at 4,610, got rejected, and the blue arrow projects a drop toward 4,570-4,550. *GOLD 15M Analysis: XAUUSD At $4589, Rejected 4600 SBR → Target $4570 + Short Plan* Gold is pulling back hard. After failing to break 4,610 EMA 200, sellers took over at the 4,600 SBR zone. We’re now below 4,590 and the chart points to 4,570 next. Bias stays bearish while under 4,600. *Technical Breakdown* *1. KEY LEVELS* *CURRENT*: 4,589.880 - Pushing down *SBR ZONE*: 4,600.000 - Blue box. Support turned Resistance *EMA 200*: 4,610.683 - Blue line. Dynamic resistance *RECENT HIGH*: 4,618 - Above EMA 200 *TARGET 1*: 4,580.000 *TARGET 2*: 4,570.000 - Blue arrow *TARGET 3*: 4,550.000 *2. Market Structure* *Phase*: Uptrend → Pullback → Distribution *Pattern*: SBR Flip + EMA Rejection + Breakdown *Bias*: _Bearish below 4,600, Bullish above 4,615_ *Timeframe*: 15M *3. TRADE PLAN: SHORT SETUP* *Bias*: Bearish on retest failure *Entry A*: 4,595 - 4,600 - SBR retest *Entry B*: 4,608 - 4,612 - EMA 200 retest *Confirmation*: 15M bearish candle / BOS below 4,585 *SL*: Above 4,615.00 *TP1*: 4,580 | *TP2*: 4,570 | *TP3*: 4,550 *KEY CONFLUENCE* SBR + EMA 200 + Failed breakout = High probability short area *TWO SCENARIOS* *Bearish Scenario*: Rejection 4,600 → Drop to 4,580 → 4,570 → 4,550 *Bullish Scenario*: 15M close above 4,615 → Reclaim EMA 200 → Run to 4,630

*RISK MANAGEMENT* 15M gold moves $10-20 fast. Risk 1% max. Short Plan_: *Entry* 4,598 | *SL* 4,617 | *TP1* 4,580 | *TP2* 4,570 | *TP3* 4,550 Rule: Book 50% at 4,580, move SL to BE. Don’t buy the dip until 4,600 flips back to support. *SMC NOTE*: This is "sell the retest". Price broke down, came back to test 4,600 as resistance, and got rejected. That’s institutions distributing. As long as we stay below 4,600, the path of least resistance is down to 4,570.