Gold (XAUUSD) – Bearish Channel & Supply Zone SetupGoldOANDA:XAUUSDomarshaabanGold is currently showing a clear bearish structure on the daily timeframe. Price has been moving inside a descending bearish channel, respecting both the upper and lower boundaries of the channel. The recent bullish retracement pushed price back into a clearly defined supply zone, where sellers previously stepped in. The key area to watch is the current structure level around the middle of the range. Price has reacted from this area after testing the supply zone, which could indicate renewed selling pressure. 🔎 Key Levels & Structure Bearish channel: Price remains inside the descending channel. Supply zone: The highlighted zone represents an important area where sellers may enter. Market structure: The marked structure level is the key area that needs to be monitored for confirmation. Support: The lower part of the channel and the major demand/support zone around the 4,000 area remain important downside levels. 📉 Bearish Scenario If price continues to respect the supply zone and remains below the bearish channel structure, I will be looking for further downside movement. A confirmed break of the structure, followed by a retest and rejection, would provide stronger confirmation for a continuation toward the lower levels. ⚠️ Important I am not looking for an entry simply because price reaches the supply zone. Confirmation is required. The priority is always: Structure → Break → Candle Close → Retest → Confirmation → Entry As long as the bearish structure remains valid, the focus remains on selling opportunities rather than anticipating a reversal. What do you think? Will Gold continue respecting the bearish channel, or are we about to see a breakout? #XAUUSD #GOLD #GoldAnalysis #TechnicalAnalysis #PriceAction #TradingView #Forex #GoldTrading #MarketStructure #SupplyZone #BearishChannel